Israeli carrier El Al profit slumps, working on recovery plan
The coronavirus pandemic led to a huge loss at El Al in the final three months of 2020, and the airline said it was working on a recovery plan to emerge from the crisis. The carrier said Thursday it lost $140m in the October-December period as it operated just a handful of flights, versus a net loss of $31.5m a year earlier. Revenue fell to $111.6m -- $73m coming from cargo activities -- from $518m. For all of 2020, when COVID-19 closed Israel’s borders to foreigners and significantly curtailed the carrier’s operations, El Al’s loss swelled to $531m from $60m in 2019.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-26/unaligned/israeli-carrier-el-al-profit-slumps-working-on-recovery-plan
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Israeli carrier El Al profit slumps, working on recovery plan
The coronavirus pandemic led to a huge loss at El Al in the final three months of 2020, and the airline said it was working on a recovery plan to emerge from the crisis. The carrier said Thursday it lost $140m in the October-December period as it operated just a handful of flights, versus a net loss of $31.5m a year earlier. Revenue fell to $111.6m -- $73m coming from cargo activities -- from $518m. For all of 2020, when COVID-19 closed Israel’s borders to foreigners and significantly curtailed the carrier’s operations, El Al’s loss swelled to $531m from $60m in 2019.<br/>
