EL AL presents results for first quarter of 2016

El Al reported that revenues from operations amounted in the first quarter to approx. US$397m, compared to US$420m in the First Quarter of the previous year. The Company’s revenues declined as a result of the timing of Passover and a decrease in flight ticket prices due to the competition and the drop in oil prices. The Company recorded, in the first quarter of 2016, a loss before tax of approx. US$33m, compared to a loss of approx. US$22m in the first quarter of the previous year. Net loss amounted to approx. US$21.4m, compared to approx. US$16m in 2015. Cash flows from operating activities for the first quarter amounted to approx. US$72m, compared to approx. US$59m in the previous year. EBITDA for the first quarter totaled approx. US$10.8m, compared to approx. US$25.8m in the first quarter of 2015.