Israel's flag carrier says it earned $8.5 million between October and December, compared with a $110 million loss in the same period a year earlier; airline now offers shorter flight to Asia after being granted permission to fly over Saudi Arabia and Oman
Ynet reports that El Al Israel Airlines (ELAL.TA) reported a fourth-quarter net profit and forecast that annual revenue will jump 75% by 2028 as travel is rebounding strongly from the pandemic and the carrier plans to expand routes to Asia.
Chief Executive Dina Ben-Tal Ganancia said El Al was looking to resume flights to India and add flights to Australia, and possibly the Philippines, Singapore and Maldives at some point, and plans to expand its Boeing (BA.N) 787 fleet to 22 by 2028 from 16 currently.
Helped by a $9 million capital gain, Israel's flag carrier said it earned $8.5 million between October and December, compared with a $110 million loss in the same period a year earlier and a $31 million loss in the fourth quarter of 2019, before the pandemic hit travel.
Source - Ynet/Twitter - Image - Reuters