El Al Israel Airlines reports Q2 2018 revenues of USDS 547m

El Al Israel Airlines Ltd. (TASE: ELAL) has reported revenues in the second quarter of 2018 amounted to approximately USD 547 million compared to approximately USD 541 million in the second quarter of 2017, indicating a growth of about 1%, the company said.

Gross profit amounted to approx. USD 69 million compared to approx. USD 107 million in the second quarter of 2017;

Loss from operation amounted to approx. USD 13.7 million compared to a profit of USD 27 million in the second quarter of 2017;

Net loss in the second quarter of 2018 amounted to approx. USD 18.2 million compared to profit approx. USD 16.4 million in the second quarter of 2017;

Market share from passenger traffic at Ben Gurion Airport in the second quarter of 2018 decreased to approx. 26.7% compared to approx. 29.5% in the second quarter of 2017;

Aircraft Load Factor in the second quarter of 2018 stood at 83.5% compared to 84.3% in the second quarter of 2017;

The Company´s available seat kilometer (ASK) increased by about 3% and revenue Passenger Kilometer (RPK) increased by about 2%;

Average total income per RPK (Yield) dropped by about 1%;

The Company´s cash and deposit balances as of June 30, 2018 totaled approx. USD 280 million;

The Company´s equity as of June 30, 2018 totaled approx. USD 267 million;

Cash flow from operating activities in the second quarter of 2018 amounted to approx. USD 56 million compared to approx. USD 101 million in the second quarter of 2017;

EBITDA amounted to USD 25.4 million compared to USD 70 million in the second quarter of 2017;

The Company´s revenues for the first six months of 2018 amounted to approx. USD 1,007 million Compared to USD 959 million in the first six months of 2017, reflecting a growth of about 5%;

Loss from operation for the first six months of 2018 amounted to approx. USD 66.3 million Compared to USD 7.1 million in the first six months of 2017;

Net loss for the first six months of 2018 amounted to approx. USD 62.1 million Compared to USD 13.6 million in the first six months of 2017.

El Al Israel Airlines Ltd. is the National Air Carrier of Israel. In 2017, El Al recorded revenues amounting to nearly USD 2.1 billion. El Al carries about 5.6 million passengers a year. The Company operates flights to about 34 direct destinations around the world and many other destinations by means of cooperation agreements with other airlines, thus it currently operates 45 aircrafts, of which 27 are owned by the Company.