El Al still owes customers $240m
El Al CEO Avigal Soreq: We are on course to achieving cash-flow breakeven in 2021.
There are some positive signs in the financials released by El Al Israel Airlines Ltd. (TASE: ELAL) for the first quarter of 2021. Revenue rose by 5% in comparison with the fourth quarter of 2020, to $117 million, although it was well below the revenue figure for the first quarter of 2020 (which was mostly before Israel s skies were closed in March last year) of $321 million.
El Al made an operating loss in the first quarter of 2021 of $76 million, which compares with an operating loss of $93 million in the corresponding quarter of 2020.
Israeli Carrier El Al to Slash Jobs as It Deepens Cost Cuts
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Israeli carrier El Al to slash jobs as deepens cost cuts
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