El Al posts reduced losses in the first quarter

June 10, 2010 22:08

EL AL has reduced losses by 59% to $16.5 million in the first quarter this year as compared to a $39.8 million loss in the same time period last year, despite the worldwide financial crisis. 

CEO Elyezer Shkedy credits this financial improvement to increased passenger traffic, strategic commercial planning, aggressively facing increased competition, reducing expenses, as well as significantly improving and expanding cargo activities. In North America, readers of Global Traveler magazine selected EL AL as having the Best Airline Security .

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