El Al Profits for 8th Consecutive Year

At a time when many of the world’s airlines are reporting losses, E1 A1 Airlines has reported a profit for the eighth year in a row.

Rafi Harlev, the president of Israel’s national airline, reported Monday that in 1993 E1 A1 had a profit of $9.9 million on revenues of $947.1 million. He said the number of passengers carried by E1 A1 last year increased by 10 percent over the previous year, to a total of 2,145,000 passengers. The company also carried 185,000 tons of cargo last year.

In June, the government’s privatization committee approved the sale of 51 percent of E1 A1 Airlines to the general public, paving the way for privatization of the national carrier.

The actual sale of shares is expected to take place in October, when the once-ailing airline is to be taken out of the 13-year-long receivership under which it has been operating.

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