El Al released that revenues for the 2nd quarter of 2011 grew by about 6%, to $530.5m. The 47% increase in the price of aviation fuel, and the 9% increase in the value of the shekel in comparison to the dollar, increased the Company’s costs by about $80m before hedging, compared to the parallel quarter of last year. The Company reported a second quarter of 2011 net loss of $19.7m, compared to a net profit of $14.8m in the parallel quarter of 2010. Cash flow from regular activities during the second quarter of 2011 totaled to $20.2m.
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Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
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5811 Cooney Road
Richmond, BC V6X 3M1
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada