Israeli flag carrier sees 3Q profit jump 245%

11/22/2010 10:02:11 AM

Flag carrier El Al Israel Airlines posted a 245 percent surge in third quarter net profit as passenger and cargo revenue rose, reported Reuters. Net profit in the quarter increased to US$42.5 million from $12.3 million a year earlier. Revenue rose 13 percent to $561.2 million on higher passenger traffic and an increased yield per passenger per kilometre, El Al said. Cargo revenue grew 34 percent. Net profit was also boosted by a decline in financing expenses. The Israeli carrier's market share from Tel Aviv's Ben Gurion airport slipped to 34 percent while its load factor fell to 83.8 percent from 85.1 percent a year ago.                                                                                                  Cargonews Asia

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