El Al reports 2nd quarter net loss of $19.7 million

El Al Israel Airlines, the Israeli national carrier, reported 2nd  quarter of 2011 financial results. Revenues for the quarter totaled $530.5 million, compared to $502.4 million in the parallel period last year, an increase of about 6%. Gross profits for the current quarter totaled about $60.3 million (a ratio of about 11.4% on turnover), compared to $101.4 in the parallel quarter of last year (a ratio of about 20.2% on turnover). Net loss for the second quarter of 2011 totaled $19.7 million, compared to a net profit of $14.8 million in the parallel quarter of 2010.