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EL AL, Israel’s national airline, is announcing a record breaking $2.1 billion in revenues for 2008, up from $1.9 billion in 2007. The company also showed a 17% increase in operating expenses, reaching $1.8 billion compared to $1.5 billion in 2007. The net loss in 2008 was $38.8 million. The positive cash flow was $118.9 million. Unprecedented oil prices, the global financial crisis, the reduction in the number of passengers travelling due to the economy, the collapse of the dollar compared to the shekel and increased competition were the main factors contributing to this loss.
“Despite all these negative influences, EL AL demonstrated admirable strength, stability and an allegiance for growth,” stated Haim Romano, President, EL AL Israel Airlines. “We overcame the challenges of 2008 with our financial security unshaken, our organizational unity unbroken and without deviating from the long-term strategic plans that guide us. As an airline with a large segment of activities based on long-haul flights, such as the USA/Israel route, we adapted to shifting market demands and quickly changed short-term strategies that were successfully implemented. “
The airline managed to maintain high load factors (according to industry levels) and reduced expenses dramatically, thereby becoming an even more efficient carrier. EL AL also faced increased security costs while the government renounced its responsibilities and previous decisions to assist the airline with these expenses.
EL AL continues with a commitment to provide an uncompromised level of service to benefit customers, implement more sophisticated information systems, add new routes, upgrade the in-flight product in existing aircraft and expand its fleet. In 2008, on all existing aircraft, every seat in economy class was upgraded, resulting in a more comfortable flight experience. And, a sophisticated digital in-flight entertainment system now offers an even wider variety of in-flight programming in every class of service.
EL AL also purchased four new state-of-the-art 777 aircraft, scheduled for delivery in early 2012, that will be utilized on the USA/Israel route. In the past year, EL AL also entered into a code share agreement with American Airlines that offers passengers from 22 additional cities in North America new, time-saving and more convenient travel options to Israel.
EL AL continues to ensure premium class passengers have a positive experience in their travels to Israel. In 2008, the airline installed advanced new sleeper seats in First and Platinum Business Class on all 777 and 747-400 aircraft. EL AL also opened a spacious, luxurious King David Lounge at Newark Liberty International Airport for First and Business Class passengers. The same relaxing environment is offered in King David Lounges at JFK, Los Angeles and Ben Gurion International Airports. All feature a hi-tech business center, free internet, plasma tvs, snacks, a shower and more.
About EL AL
EL AL, Israel's national airline, offers the most nonstop flights between New York (JFK/Newark) and Israel as well as the only nonstop service from Miami and Los Angeles. EL AL is the only airline with First Class service on nonstop flights between the U.S.A. and Israel. EL AL flies to more than 40 destinations worldwide from Israel. Your Israel experience begins the moment you board EL AL.
EL AL embodies Israel’s values of innovation and caring and the promise of a genuine Israeli welcome. EL AL is proud to bring tourism back to Israel. For updated daily departure and arrival flight information, travelers can call (800) EL AL-747, 24 hours a day, 7 days a week. For reservations, call (800) 223-6700 or any travel agent or visit www.elal.com
EL AL. It’s not just an airline. It’s Israel.
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