NEW YORK – November 13, 2013 – EL AL Israel Airlines has announced positive financial results for the third quarter (July - September) of 2013. The all-time high net profit for this period grew by more than 50 percent to $57.9 million, as compared to $37.5 million in the parallel quarter of 2012. These excellent results are the outcome of newly adopted business procedures and activities, despite fierce and challenging competition.
Revenues in this quarter rose six percent and were the highest within the past five years, totaling $643.3 million. Cash flow from regular company activity during the 3rd quarter of 2013 rose to $56.1 million, compared to$13.3 million in the same quarter last year, and to $184.6 million in the first nine months of 2013. The company’s cash balance on September 30th totaled $131.5 million, compared to $116.1 million in the parallel quarter last year.
EL AL President/CEO Elyezer Shkedy stated, “This is a fine foundation for the company’s continued advancement and development, and will enable us to take advantage of opportunities to further develop growth engines and other sources of revenue.”
During this quarter, readers of the prestigious travel magazine, Conde Nast Traveler, voted EL AL as having the second best in-flight service (after Singapore Airlines) of all premium airlines around the world that were surveyed.
Direct sales via the internet grew by about 8 percent compared to the same period last year. The Matmid Frequent Flyer Club currently has a worldwide membership of 1.25 million members and a change in the club’s operating model is currently in progress and will soon be submitted to the Board of Directors. EL AL recently opened two new routes, to Venice, Italy and Larnaca, Cyprus. The company continued the development, promotion and evolution of strategic plans in response to trends in global markets and in the international aviation industry.
For more information and to book flights, visit www.elal.com or call EL AL at (800) 223-6700 or contact any travel agent. Learn more about special promotions as well as activities, special events and useful travel tips to Israel, plus more, by joining the airline on Facebook (ELALIsraelAirlinesUSA) and Twitter (@ELALUSA).