ELAL Israel Airlines reports first quarter net loss of $49.9 million

ELAL reported that revenues reached an all-time record, and totaled $471.5 million, compared to $388.6 million in the first quarter last year, an increase of 21%. Gross profits in this quarter totaled $54.9 million, an increase of 12% compared to the parallel quarter last year. Operating loss this quarter totaled $47.4 million, compared to a loss of $10.6 million in the parallel quarter last year. Net loss this quarter was $49.9 million, compared to a net loss of $15.3 million in the parallel quarter last year.