Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
El Al Q3, Best Quarter For The Past Decade! +42%  
User currently offlineEl Al 001 From Israel, joined Oct 1999, 1063 posts, RR: 1
Posted (12 years 5 months 1 week 9 hours ago) and read 3487 times:

It's been a very long time since i wrote here for the last time.
Much has changed for me.. My whole life.
Well, got back from the navy for this weekend and here is a report I'd like you all to read and reply (...Of course..).
Made me really happy learning about it, though Ive been quite far from the business for the last 7 months.

Here it is;
El Al Q3 profits soar by 42 percent
Privatized airline El Al (TASE: ELAL) announced
third quarter net profits of $61 million
yesterday, up 42 percent on the parallel quarter
of 2002.

Improvement in its market share, growth in cargo flights and comprehensive
cost-cutting all contributed to making this third quarter, traditionally the strongest, the best quarter for the airline in the past decade, according to chairman Michael Levy.

Previous disappointing results had caused many potential investors to hesitate before buying the shares when the government floated the company earlier this summer. Many went for the share options.

Revenues rose 6.5 percent to $370 million, the carrier said, compared with $345.2 million in the same quarter of 2002. Sales from passenger flights grew 7.8 percent in the quarter despite the market itself increasing by only 2 percent in the period.
This could be attributed to El Al's success in raising its occupancy rate on
passenger flights from an average 76.1 percent in the third quarter of last year to 82.6 percent a year later.

In terms of net revenues per passenger-kilometer, a useful measure of
airline performance, El Al again managed an impressive 5.3 percent growth, to 6.17 cents.

The real surprise was its operating profit, which shot up 30 percent to $62.3 million, compared with $47.9 million in the parallel.

As for its shares, El Al was floated on June 10, 2003. Anybody who bought its bundled shares and options at the IPO has earned 370 percent in
five months, despite the frowns from analysts who predicted the investors had belly-flopped.

The carrier's strong report goes beyond its operating and net profits. Cash flow from current operations was $64.8 million in the
third quarter, compared with $60.7 million in
the parallel quarter.

El Al files its reports in U.S. dollars, which allows the company to benefit somewhat from the euro's strengthening against the dollar in the
three-month period.

CEO Amos Shapira commented that regulation in
the field of cargo flights had become more
flexible, and he compared it with the rigidity
still apparent regarding rules and regulations
at Ben-Gurion Airport. He pointed out that as a
result of the freer environment, El Al could
fly cargo flights between points in Asia, and
from Europe to Asia, via Tel Aviv.

Another positive item in the report is debt to
the banks. Long-term loans were down 6.1
percent at the quarter's end to $783.5 million,
compared with $834.4 million at the end of
2002. At the end of the quarter, El Al had
$80.3 million cash, up from $74.9 million at
the end of 2002.

Mike, http://www.idf.il/navy/

1 replies: All unread, jump to last
User currently offlineScottysAir From , joined Dec 1969, posts, RR:
Reply 1, posted (12 years 5 months 1 week 9 hours ago) and read 3476 times:

Anyone you need to know about LY need increase more flight from JFK to TLV flight and which one are those flight is always fulled and why? They need orders more new B744 or B777 aircraft on their way to TLV. This is really important for their passengers on the way to Israel. This is possible for El Al need get improvement with these passengers to Israel and without of air marshals on the plane and that why LY were stopped using with NAA into the this fall 2003.

Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
El Al Q3 Net Profit Down To $1.8m From $52m posted Wed Nov 29 2006 20:43:51 by El Al 001
El Al 777-200ERs Firm For 2007 Delivery. +Q... posted Tue Dec 13 2005 18:34:21 by DIA
El Al Reports Best Quarterly Results In Its Histor posted Sat Nov 26 2005 19:54:55 by El Al 001
Air Disasters Timeline For The Past 7 Years posted Wed Aug 17 2005 02:32:24 by Dstefanc
EL AL May Be Sued For Breaking Shabbat posted Thu May 19 2005 21:41:18 by Planenutz
Isn't El Al To Start Flying On The Sabbath? posted Fri May 6 2005 18:25:53 by TranStar
"El Al Packs Some Heat For Unwitting Flyer" posted Mon Mar 15 2004 07:14:46 by Usnseallt82
El Al Made A $6.3 Million Profit For 2003. posted Thu Mar 4 2004 01:00:43 by Amirs
Best Scheme For The 767 posted Sun Feb 29 2004 19:56:40 by Yanksn4
What Is The Best Substitute For The 747-SP? posted Sat Sep 6 2003 17:33:17 by Pouyazad