Israel’s national carrier, El Al Airlines, reported good news on Thursday for the second quarter of 2023, in which revenue totaled $630 million — 22 percent more than the $516 million earned in the second quarter of 2022.
Even better news: operating profit in the second quarter of 2023 was $90 million — 10 times the operating profit of $9.4 million in the same quarter a year ago, according to Globes.
Gross profit was $59 million in the second quarter, as compared to the gross loss of $17 million in the corresponding quarter.
“After a successful first quarter that represented a good opening point, we are delighted to present record results for the second quarter, which was the second most successful quarter for the company since its IPO,” said El Al CEO Dina Ben Tal Ganancia.
“Together with the stabilization of revenue, and the strict streamlining measures during the Covid pandemic, we are on the right path to maintain financial stability and soundness.”
Earlier this year, El Al Airlines announced the first collaboration agreement of its kind with aviation giant Delta.
“We entered the SAF (sustainable aviation fuel) world for the first time, completed the retrofit project for the 777 aircraft, and also received after a delay of several years the fleet’s 16th Dreamliner,” Ganancia noted.
“I am proud to present for the first time the five-year business plan, which has been built in a gradual manner and in line with our strategic plan. I believe in this plan and am confident that we will meet the goals we have set for ourselves.”