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Article: El Al Israel Airlines announces financial turnaround.
- Article from:
- PR Newswire
- Article date:
- August 18, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EL AL ISRAEL AIRLINES ANNOUNCES FINANCIAL TURNAROUND
TEL AVIV, Aug. 18 /PRNewswire/ -- "El Al Israel Airlines, Israel's national carrier, has posted its first annual profit in nearly a decade," announced Rafi Harlev, president of the airline.
El Al's on-time performance and load factors are among the highest in the industry, and during the past year El Al carried over 1.5 million passengers.
As a result of managing operations carefully, El Al Israel Airlines has substantially reduced its debt burden and is showing a net profit of $15.2 million on revenues of approximately $567 million, for the fiscal year that ended March 31, 1987. For ...