El Al Israel Airlines Ltd. (TASE: ELAL) reported its second quarter results this morning. The airline's net profit plummeted 53% to $16.4 million, compared with $35 million in the second quarter of 2016. El Al's operating revenue totaled $541 million in the second quarter of this year, slightly higher than the $538 million recorded in the second quarter of 2016. Passenger revenue rose 1.1%, while cargo revenue fell 2.5%. RELATED ARTICLES French court orders El Al to pay passenger €900 for delay El Al banks on Boeing's Dreamliners El Al - Israir merger signed El Al crisis ends Operating expenses rose 5% to $433 million, mainly because of salary rises for employees in the new labor agreement signed by the company. In the first quarter, El Al lost $30 million, in large part because of the salary rises and higher jet fuel costs. Operating revenue in the first quarter was $418 million. El Al's share price is currently down by more than 10% on the Tel Aviv Stok Exchange. Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
