El Al Reports Larger Operating Loss for First Quarter

By Karin Sun on 21 May 2014
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An El Al plane in London

An El Al plane in London

El Al Airlines announced financial results for the first quarter of 2014.

The Israeli flag carrier reported an operating loss of $39.7 million for Q1, compared to its smaller loss of $32.5 million in the same period last year.

Total revenue for the airline was $415.4 million, a year-over-year decrease of $15.6 million from $431 million in the first quarter of 2013.

Passenger traffic was 3.823 billion revenue passenger kilometers, or RPKs, a 2% increase from 3.749 billion RPKs in the first quarter of 2013. El Al also saw a small increase in capacity, with 4.735 billion available seat kilometers, or ASKs, a 3% increase from 4.588 billion last year.

The airline’s Q1 load factor was 80.7%, a year-over-year decrease of 1 percentage point from 81.7% in the first quarter of last year.

(Photo: Accura Media Group)

Accura News

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