Israel's flagship airline reports profit for 1st time since COVID-19 outbreak
Aug 12, 2022
Jerusalem [Israel], August 12: Israel's leading airline El Al reported a quarterly profit for the first time since the outbreak of the COVID-19 pandemic in the country, said a financial report issued by the airline on Thursday.
El Al recorded a profit of 100.5 million U.S. dollars in the second quarter of 2022, compared to a loss of 80.7 million dollars in April-June 2021.
The airline's revenues reached 799 million dollars in the first half of this year, compared to 340 million dollars in the same period last year, according to the report.
El Al was almost shut down after the pandemic broke out in February 2020, and recorded a loss of 531 million dollars in 2020 and 431 million dollars in 2021.
The airline carried out wide-scale efficiency-enhancing plans during the pandemic, including laying off thousands of workers. The airline also received massive government financial support.
The airline's activity jumped sharply from the beginning of 2022 as Israel gradually removed most of its COVID-19 restrictions, the report noted.
Source: Xinhua
