Israeli flag carrier sees highest quarterly revenue since Covid outbreak

Tel Aviv, Nov 24: Israeli flag carrier El Al brought in the strongest quarterly revenues in July-September since the Covid-19 outbreak in early 2020, according to a financial report issued by the airline.

The airline's revenues in the third quarter (Q3) this year stood at $626 million, slightly below the pre-pandemic level of $647 million during the same period in 2019, but jumps almost 2.5 times year-on-year from Q3 2021, when the company earned $253 million, reports Xinhua news agency.

According to the report, the airline's Q3 profit totalled $67 million, compared to a loss of $136 million in July-September last year.

Due to the pandemic, El Al's losses reached $530 million in 2020 and $413 million last year.

The airline, which received massive government support and carried out wide-scale efficiency-enhancing plans, began to recover significantly in the second quarter of this year with the gradual removal of the ban on tourists entering Israel.

Israeli flag carrier sees highest quarterly revenue since Covid outbreak
IANS 24 November 2022 Post Your Comments

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