Israel’s El Al Airlines – which recently entered the Irish market by launching a direct route from Dublin to Tel Aviv – has reported a narrowing of its losses.
New financial figures for the carrier show its first quarter losses come in at $34m. That number was down from a loss of $66m for the first three months of last year.
On a year-on-year basis, El Al’s first quarter revenues jumped from $283m to $500m as passenger numbers and load factors grew. However, operating costs also jumped due to rising fuel prices.
El Al is also considering growing its fleet of planes from 45 to 60 planes over the course of the next 5 years.