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Israel's flagship airline sees highest quarterly revenue since COVID-19 outbreak

25 November 2022 [08:30] - TODAY.AZ

By Trend

The Israeli flag carrier El Al brought in the strongest quarterly revenues in July-September since the COVID-19 outbreak in early 2020, according to a financial report issued by the airline on Wednesday, Trend reports citing Xinhua.

The airline's revenues in the third quarter (Q3) this year stood at 626 million U.S. dollars, slightly below the pre-pandemic level of 647 million dollars during the same period in 2019, but jumps almost 2.5 times year-on-year from Q3 2021, when the company earned 253 million dollars.

According to the report, the airline's Q3 profit totaled 67 million dollars, compared to a loss of 136 million dollars in July-September last year.

Due to the pandemic, El Al's losses reached 530 million dollars in 2020 and 413 million dollars last year.

The airline, which received massive government support and carried out wide-scale efficiency-enhancing plans, began to recover significantly in the second quarter of this year with the gradual removal of the ban on tourists entering Israel.


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