El Al Israel Airlines has posted a net profit of $93 million for the third quarter of this year compared to $10.1 million in the year-ago period. The airline’s revenues rose 7.7% at $647.3 million. Operational expenses fell 12% to $438.5 million thanks to the fall in the price of jet fuel, although this was partially offset by a 5.1% increase in flight hours.
“The excellent financial results and the company’s financial robustness—expressed [among other things] by high cash flow and deposit balances totaling approximately $223m and a particularly low debt/EBITDA ratio—support our long-term aircraft acquisition program,” said chief financial officer, Dganit Palti.