El Al Israel Airlines reports financial results that finalize 2013

Revenues from operations for the present year grew by about $2103.00m compared to $2015.6m in 2012, a 4% increase. Passenger revenues grew by about 4.9%, largely as a result of increased passenger numbers. Cargo revenues decreased by about 3.3% as a result of the drop in the average ton-kilometer revenue. Operating costs in 2013 were $1754.2m compared to $1701.7m in 2012 – an increase of about 3.1%, which is a lower ratio than the ratio of Company revenue increases. The increase in operating costs stems largely from the increased cost of salaries and the increase in passenger numbers and flight hours flown. The ratio of operating costs on turnover dropped from about 84.4% in 2012 to about 83.4% in 2013. Net profit for 2013 was about $25.4m compared to a loss of about $18.00m in 2012. Cash flow from regular activities increased significantly during the year ended 31st December 2013 and totaled about $185.3m, an increase of about 137% compared to a cash flow from regular activities of $78.3m in 2012. The EBITDA of El Al for 2013 increased to about $141.9m (about 6.7% on turnover), compared to $121.7m (about 6% on turnover) in 2012.