EL AL Israel Airlines revenues down 1.3%

El Al Israel Airlines said that revenues from operation were USD 2,054 million, reflecting a drop of 1.3 percent compared to same period of the previous year.

This drop is mainly due to revenues from the company´s passenger flights, which were affected by several opposite trends, the airline said. While revenues were favorably affected as a result of a growth in the number of passengers at Ben Gurion Airport, on the other hand, revenues were adversely affected by a drop in flight prices in the reporting year, mostly due to the increased competition and the impact of the drop in fuel prices.

Additionally, the company´s revenues were significantly adversely affected by exchange rate erosion of various currencies in which some of the company´s sales transactions are carried out (mainly Euro) in relation to the dollar.

El Al Israel Airlines Ltd. (TASE: ELAL) is the national air carrier of Israel. In 2014, El Al recorded revenues amounting to nearly USD 2.1 billion. El Al carries about 2.05 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.