El Al Israel Airlines posts financial results for full year 2016 and fourth quarter

El Al Israel Airlines reported that the Company’s revenues in 2016 amounted to approx. US$2,038m, compared to approx. US$2,054m in the previous year. Profit before tax in 2016 was approx. US$93m, compared to a profit before tax of approx. US$145m in the previous year. The Company completed 2016 with a net profit of approx. US$81m compared to a net profit of approx. US$107m in 2015.
The Company’s cash and deposit balances as of December 31, 2016 totaled approx. US$212m and the equity amounted to approx. US$284m. EBITDA in 2016 amounted to approx. US$287m, compared to approx. US$331m last year. Cash flow from operating activities in 2016 amounted to approx. US$243m, compared to a cash flow of approx. US$271m in 2015. The Company’s revenues in the fourth quarter of 2016 amounted to approx. USD 460.8 million, compared to approx. USD 476.3 million in the fourth quarter of 2015. The Company recorded in the fourth quarter of 2016 a net loss of approx. US$2.4m, compared to a profit of approx. US$12.2m in the fourth quarter of 2015.