El Al’s Israel Airlines has posted a 245% increase in its third quarter net profit to $42.5 million. Revenue was also up 13% to $561.2 million in the same period. The airline credits strong passenger and cargo revenue and a decline in financing expenses for the healthy increase in profit.
Cargo revenue grew 34% in the period although El Al’s share of international scheduled flights and charter flights from Israel fell to 34% over 34.7% in same period in 2009. Aircraft occupancy was also down to 83.8% versus 85.1% last year.