El Al Israel reports Q3 2018 revenue of USD 642m

El Al Israel Airlines (TASE: ELAL) has reported third quarter 2018 revenues of USD 642 million compared to approximately USD 626 million for the third quarter of 2017, a growth of about 2.5%, the company said.

Operating profit for the third quarter of 2018 amounted to approximately USD 62 million compared to approximately USD 69 million for the third quarter of 2017, indicating a decrease of about 11%.

Profit before tax for the third quarter of 2018 totaled approximately USD 54 million, compared to profit before tax of approximately USD 63.8 million for the third quarter of 2017.

Net profit for the third quarter of 2018 amounted to approximately USD 42 million compared to approximately USD 49 million for the third quarter of 2017.

EBITDA for the third quarter of 2018 amounted to USD 99 million compared to USD 109 million for the third quarter of 2017.

EBITDAR for the third quarter of 2018 amounted to USD 137.7 million compared to USD 147.3 million for the third quarter of 2017.

The Company´s cash and deposit balances as of September 30, 2018 totaled approximately USD 246 million.

The number of flight segments in the third quarter of 2018 declined by approximately 0.7% compared to the third quarter of 2017; however, passenger revenue per kilometer flown (RPK) increased by approximately 1.3% and available seat per kilometer (ASK) increased by about 1.2%.

Average total income per RPK (Yield) for the third quarter of 2018 grew by about 2.1%.

Aircraft load factor for the third quarter of 2018 stood at 85.4%, similarly to the third quarter of 2017.

El Al Israel Airlines Ltd. is the National Air Carrier of Israel. In 2017, El Al recorded revenues of nearly USD 2 billion. El Al carries about 5.5 million passengers a year. The Company operates flights to about 35 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 28 are owned by the Company.