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El Al Israel Airlines Says FY Revenue Rose 2% To $2.18 Billion
El Al Qtrly Rev $429 mln
El Al petitions Supreme Court over flights via Saudi airspace
El Al Israel Airlines Ltd. (El Al) is an international airline company. The Company operates domestic and international flights between Israel and abroad. Services include commercial flight services, charter flights and cargo. Further activities include the provision of catering services to its own and leased aircraft, checking services, such as at arrival and departure desks, cargo handling, security services and maintenance services for its own flight carriers, as well as for other companies. El Al also offers an E-Club card, offering various deals and bonuses for its members. The Company's fleet comprises two Boeing 737-700 and 14 737-800, five Boeing 747-400, seven Boeing 767, five Boeing 757 and six Boeing 777-200 aircraft. El Al's subsidiaries include Sun D'or, Taman, Catit, Superstar Holidays, ACI (50%), Borenstein Caterers, Airtour (50%), Cyber (49%) and Holiday Lines (20%).
Ben Gurion Airport
P.O. Box 41
Chairman of the Board
Chief Executive Officer
Vice Chairman of the Board
Tamar Ada Mozes Borovitz
Vice Chairwoman of the Board
Vice President - Finance
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Eli Rozenberg's bid for a controlling stake in El Al Israel Airlines <ELAL.TA> is below the price that can be obtained in a public share offering and may struggle to gain board support, said a source close to the board who declined to be named.
El Al's <ELAL.TA> fate is expected to be decided in the coming days, with the Israeli airline looking to reach a deal with workers on job and spending cuts to get government aid.
El Al Israel Airlines reported a first quarter loss on a steep drop in revenue and said it has had to give up some of its fleet and release most of its workforce on unpaid leave to contend with the coronavirus outbreak.
The coronavirus crisis may be pushing El Al Israel Airlines <ELAL.TA> back into the hands of the state, less than two decades after the flag carrier was privatised.
El Al Israel Airlines <ELAL.TA> on Monday extended unpaid leave for 5,800 workers until July 31 and said that without state aid it will not be able to resume operations once the country's borders, shut over the coronavirus crisis, reopen.
El Al Israel Airlines on Wednesday extended a suspension of scheduled commercial flights until June 20 but said it would continue to use its aircraft for cargo and occasional passenger flights.
The Israeli government will demand that El Al Israel Airlines <ELAL.TA> carries out an overhaul, including layoffs, before agreeing to throw a lifeline to the cash-strapped airline, officials said on Sunday.
El Al Israel Airlines <ELAL.TA> on Sunday extended its suspension of scheduled passenger flights by a week until May 9 but said it will operate a number of special flights to and from the United States and Europe.
El Al Israel Airlines said it is in advanced talks with an Israeli bank to receive a loan that will be partly backed by government guarantees and signed a deal to fly equipment to fight the coronavirus between China and Italy.
El Al Israel Airlines <ELAL.TA> estimated on Thursday that the government's latest restrictions on travelers arriving from five European countries would further damage its results.
Israel's flag carrier El Al <ELAL.TA> said it was laying off 1,000 of its 6,000 employees and cutting the salaries of its top management as it struggles to cope with the impact of the global coronavirus outbreak.
El Al Israel Airlines is suspending its Hong Kong flights and will be reducing flights on its Bangkok route in the wake of the coronavirus outbreak, the company said on Wednesday.
El Al Israel Airlines <ELAL.TA> expects a $30 million drop in first quarter revenue stemming from the impact of the coronavirus outbreak, but much of that should be offset by lower operating expenses, the company said on Wednesday.
Israel's Health Ministry said on Thursday it will not allow flights from China to land at its airports and the country's flag carrier El Al Israel Airlines <ELAL.TA> suspended flights to Beijing until March 25 due to the coronavirus outbreak.
El Al Israel Airlines <ELAL.TA> said on Tuesday it will operate direct flights to Melbourne on a trial basis in April and May in what would be the longest flight ever for Israel's aviation industry.
El Al Israel Airlines reported a wider first-quarter loss on Wednesday, saying the timing of the Passover holiday and increased competition led to a drop in revenue.
El Al Israel Airlines reported a wider quarterly loss on Wednesday, citing higher fuel costs and increased competition that has shrunk its market share.
El Al Israel Airlines said on Tuesday it was continuing to expand into North America with a nonstop flight during the summer months between Tel Aviv and Orlando.
El Al Israel Airlines said on Monday it reached a six-year agreement with its pilots that will allow safer and more efficient operations in line with new Israeli regulations.
El Al Israel Airlines <ELAL.TA> said on Wednesday it moved to a loss in the second quarter despite a rise in revenue, weighed down by higher jet fuel costs.
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