El Al ends quarter $29 million in the black

Ha'aretz Daily ^

[RCW2001]

El Al ended the third quarter of 2002 with a $29 million profit - up from a $24.2 million gain recorded in the corresponding period last year, according to the company's financial reports, which are to be presented for approval to the company's board of directors tomorrow.

The third quarter is traditionally the most profitable for the airline industries as it includes the summer months. El Al finished the first six months of the year with a loss of $28.5 million, compared with a loss of $83.1 million in the first six months of 2001.

The company's improved third quarter profits stem in part from the implementation of a new strategic plan based on the recommendations of the international consultancy firm McKinsey.

As part of the plan, El Al changed its timetable in order to target Israeli business travelers. The company also implemented a number of cost-cutting measures.

[RCW2001]

Very nicely done considering the drop in tourist travel.

Our airlines, spare Southwest and maybe a couple of 'niche' airlines, could take a lesson...but they won't.

[dennisw]

Who cares? What's the point of posting this? Are you really so hung up on what Jews/Israelis do?

Another meaningless post from you.

[NorCoGOP]

I care

Rather than be squelched, I for one am interested to see how another air carrier can do so well in the current global market, where our American carriers (save Southwest and Frontier), can find profit anywhere, nor will they anytime soon.

It's good to see an ally doing something right that we need to emulate.

[RCW2001]

I thought it was significant that an airline, in distressed times and conditions, can turn a profit...

I've originated several threads in the past dealing with the 'airline industry'. Most recently...today, with the US Airway furlough announcement.

[contessa machiaveli]

why so venomous?

[dennisw]

Why don't you tell me the point of posting this. It's a waste of FreeRepublic and I'm wasting time even posting to it.

[cheme]

Think before you type!

[NorCoGOP]

Then why bother?

It's unfortunate to have such a view, not only regarding the purpose of Free Republic, but to further attempt to squelch the debate, which these threads are designed to foster, by using ad hominem attacks.

[dennisw]

Sorry jack but to me it's an irrelevant and pointless post. Your mileage may vary and so what if it does. Right?

[dennisw]

...but to further attempt to squelch the debate, which......

Hahahahha... Yeah. I'm attempting to squelch a debate about El Al profitability. A burning issue for our time.

[LowOiL]

Thank you for the post. Good article.

[Republic of Texas]

I suppose if flying passengers feel that the airline is making sensible and effective measures against terror, they will pay to fly the airline, in any economy.

[Fpimentel]

It is an important post. The airline industry has always
pressured the FAA and Congress for less security not more.
Their excuse is profitability. If El Al, Southwest and Frontier
can show a profit in these difficult times and while implementing
increased security measures then this proves more security
does not translate into bankruptcy for the Airline Industry.

dennisw, you do remember that 4 US jets were used as Weapons of
Mass Destruction on September 11th 2001. US jets, not International jets.

[pointsal]

good.... by the way, aren't there several fellas at that place that are armed with ......

[Salvation]

What is El Al doing that American Airlines should be doing to be coming out in the black?

I disagree with the poster above who basically said, "Who cares."

Business is business and black and red are vitally important. Thanks for the post.

[Salvation]

Obviously you do not have a business-oriented mind. Think about it!

[jalisco555]

Rather than be squelched, I for one am interested to see how another air carrier can do so well in the current global market, where our American carriers (save Southwest and Frontier), can find profit anywhere, nor will they anytime soon.

Not to mention JetBlue, which has become my airline of choice whenever I fly to a city it services. Threads like this are important because they demonstrate that it's unnecessary, even unwise, for the government to bail out failing airlines.

[Wild Irish Rogue]

Those of us who travel for a living,especially internationally,appreciate the airline industry updates. Thanks.

[weikel]

Actually he sounds positive here.