EL AL reports first quarter net loss of US$21.4m

EL Al reported revenues of US$396.5m as compared to US$419.8m during the parallel period last year. Net loss amounted to US$21.4m, while a loss of US$16 million dollars was recorded in the same period in 2015. Cash reserves at the end of the quarter totaled US$210.5m as compared to US$143m last year, and cash flow from ongoing activity totaled US$71.6m (US$59.2m last year). The number of passengers increased by approximately 10%, from 957,000 in last year’s first quarter to 1,000,095 this year. Load factor increased during this period from 79.5% to approximately 80%.