Israel's El Al Airlines swings to loss in Q4, revenue down
El Al Israel Airlines swung to a loss in Q4 as revenue dropped, due in part to a pilots protest that led to costly flight disruptions and a squeeze from exchange rates. Israel's flag carrier reported on Wednesday a quarterly loss of $2.4m, down from a $12.2m net profit a year earlier. Revenue fell to $460.8m from $476.3m during the same period in 2015. The airline in December signed a deal with its pilots to end a year of protests that led to flight cancellations, delays, higher costs and angry passengers. El Al said revenue was also hurt in Q4 by "the erosion of exchange rates of currencies in which the company's sales transactions are conducted against the dollar." The company said it saved $9.6m on jet fuel expenses.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-03-23/unaligned/israels-el-al-airlines-swings-to-loss-in-q4-revenue-down
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Israel's El Al Airlines swings to loss in Q4, revenue down
El Al Israel Airlines swung to a loss in Q4 as revenue dropped, due in part to a pilots protest that led to costly flight disruptions and a squeeze from exchange rates. Israel's flag carrier reported on Wednesday a quarterly loss of $2.4m, down from a $12.2m net profit a year earlier. Revenue fell to $460.8m from $476.3m during the same period in 2015. The airline in December signed a deal with its pilots to end a year of protests that led to flight cancellations, delays, higher costs and angry passengers. El Al said revenue was also hurt in Q4 by "the erosion of exchange rates of currencies in which the company's sales transactions are conducted against the dollar." The company said it saved $9.6m on jet fuel expenses.<br/>
