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Israel s El Al names treasurer as new chief financial officer | News

Israel s El Al names treasurer as new chief financial officer | News
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El Al still owes customers $240m

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.

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El Al names former Avgol executive as new finance chief

By David Kaminski-Morrow2021-01-06T11:11:00+00:00 Israeli flag-carrier El Al has named Yitzhak Eliav as its new chief financial officer, following the departure of Dganit Palti last year. He took up the post on 4 January, the airline states. Eliav was formerly the head of finance and vice-president of operations at Avgol Industries, a specialist manufacturer of non-woven fabrics for the hygiene market. He was also previously a senior finance executive at Israeli clothing and apparel retailer Fox-Wizel. Eliav’s appointment is the latest part of a top-level management overhaul at El Al, following the change of controlling shareholder last year.

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