Israeli airline El Al Q2 net profit narrows, revenue above 2019 levels
El Al on Thursday reported a narrower Q2 loss after the year-earlier period was hit with a large one-time gain and as revenue topped pre-COVID 19 levels. El Al earned a net $59m in the April-June period, versus net profit of $100m a year earlier. Excluding a large one-time gain from the sale of its frequent flier club, El Al recorded a $15m net loss in Q2 2022. Its bottomline was helped by a 29% decline in fuel costs, although salary expenses gained 37.5% in the quarter. Revenue grew 22% to $630m, above $584m in Q2 2019 before the pandemic brought harsh travel restrictions. Its load factor reached 87%, from 82% a year earlier, while El Al maintained a 23% market share at Ben Gurion International Airport near Tel Aviv.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-08-11/unaligned/israeli-airline-el-al-q2-net-profit-narrows-revenue-above-2019-levels
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Israeli airline El Al Q2 net profit narrows, revenue above 2019 levels
El Al on Thursday reported a narrower Q2 loss after the year-earlier period was hit with a large one-time gain and as revenue topped pre-COVID 19 levels. El Al earned a net $59m in the April-June period, versus net profit of $100m a year earlier. Excluding a large one-time gain from the sale of its frequent flier club, El Al recorded a $15m net loss in Q2 2022. Its bottomline was helped by a 29% decline in fuel costs, although salary expenses gained 37.5% in the quarter. Revenue grew 22% to $630m, above $584m in Q2 2019 before the pandemic brought harsh travel restrictions. Its load factor reached 87%, from 82% a year earlier, while El Al maintained a 23% market share at Ben Gurion International Airport near Tel Aviv.<br/>
