Israel's flagship airline El Al reports 136-mln-USD loss in Q3

0 Comment(s)Print E-mail Xinhua, November 25, 2021
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JERUSALEM, Nov. 24 (Xinhua) -- Israel's leading airline El Al reported on Wednesday a loss of about 136 million U.S. dollars in the third quarter of 2021.

The company explained in its quarterly financial report that in July, the COVID-19 Delta strain began to spread in Israel, leading to aviation restrictions and a decline in ticket sales.

However, at the end of August 2021, as the government eased restrictions on the departure of Israelis, a trend of recovery in ticket sales has emerged, it added.

According to the report, the company's loss in July-September was 7.5 percent lower than the 147-million-dollar loss recorded in the same quarter last year, but higher by 68 percent than the 81-million-dollar loss in the second quarter of 2021.

The report also showed that the company's revenues jumped in the third quarter by nearly 6.5 times to about 253 million dollars, compared with about 39 million dollars in the same period last year.

On Sunday, the Israeli government approved a 44-million-dollar aid program for Israeli airlines, in which El Al is to receive 30 million dollars. Enditem

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