EL AL Q1 2016 passenger segments up 10%

El Al Israel Airlines Ltd. (TASE: ELAL) reported the number of passenger segments in the first quarter of 2016 increased by 10 percent compared to last year, seat availability increased by six percent, operations in terms of RPK increased by seven percent, aircraft Load Factor stood at 80 percent, and EL AL´s market share at Ben Gurion Airport increased to 36 percent, the company said.

Revenues from operations amounted in the first quarter to USD397 million, compared to USD420 million in the in the previous year´s first quarter. 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 a loss before tax of USD33 million, compared to a loss of USD22 million in the in the previous year´s first quarter.

Net loss in the first quarter of 2016 amounted to USD21.4 million, compared to USD16 million in the first quarter of 2015.

El Al Israel Airlines is the National Air Carrier of Israel. In 2015, El Al recorded revenues amounting to nearly USD2.1 billion. El Al carries about five million passengers a year. The company operates flights to about 34 direct destinations around the world and many other destinations by means of cooperation agreements with other airlines, thus operating 43 aircraft, 28 of which are owned by the company.