El Al doubles Q2 profit
El Al Israel Airlines reported a doubling of net profit for Q2 to US$35m. Operating revenue for the quarter rose 5.3% to US$537m, up from US$511m in the same period last year. The revenue increase was caused partly by the timing of Passover, which occurred in the second financial quarter this year. Revenue was adversely affected by increased competition caused by the continuing trend of lower ticket prices as oil prices dropped, El Al said. Jet fuel costs, including the impact of hedging, declined by US$26.3m, a drop of 21% compared to the previous year period. Load factor for the quarter was 82.3%, up 1.2 percentage points, even as seat availability increased by 10% on last year. For cargo the picture wasn't as rosy with revenue down 14.6%, mainly due to a drop in yield and a decline in the amount of capacity flown.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-18/unaligned/el-al-doubles-q2-profit
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El Al doubles Q2 profit
El Al Israel Airlines reported a doubling of net profit for Q2 to US$35m. Operating revenue for the quarter rose 5.3% to US$537m, up from US$511m in the same period last year. The revenue increase was caused partly by the timing of Passover, which occurred in the second financial quarter this year. Revenue was adversely affected by increased competition caused by the continuing trend of lower ticket prices as oil prices dropped, El Al said. Jet fuel costs, including the impact of hedging, declined by US$26.3m, a drop of 21% compared to the previous year period. Load factor for the quarter was 82.3%, up 1.2 percentage points, even as seat availability increased by 10% on last year. For cargo the picture wasn't as rosy with revenue down 14.6%, mainly due to a drop in yield and a decline in the amount of capacity flown.<br/>
