EL AL Israel Airlines reports USD644m in Q3 2016 revenue

EL AL Israel Airlines Ltd. (TASE: ELAL) has reported third quarter 2016 revenues of approximately USD 644 million, compared to approximately USD 647 million in the third quarter of the previous year, the company said.

The company reported third quarter 2016 gross profit of USD173 million, compared to USD 209 million in the third quarter of the previous year.

Net profit in the third quarter of 2016 totaled approximately USD 70 million, compared to a profit of USD 93 million in the third quarter of last year.

The number of passenger segments in the third quarter of 2016 increased by about 13 percent compared to last year. Seat availability increased by about 7.5 percent and RPK increased by 8.0 percent.
The company said market-share of passenger traffic at Ben-Gurion Airport increased in the third quarter of 2016 to approx. 31.5 percent, indicating a growth of about 5.0 percent compared to the third quarter of the previous year. The load factor in the third quarter stood at 87.3 percent, compared to 87 percent in the third quarter of last year.

El Al Israel Airlines Ltd. is the national air carrier of Israel. In 2015, El Al recorded revenues amounting to nearly USD 2.1 billion. El Al carries about five 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 43 aircrafts, 28 of which are owned by the company.