EL AL TURNED IN net profits of $15 million in 1995 and expects to improve on the performance this year, helped by rising traffic between the USA and Israel.

The Israeli flag carrier says that it expects to make gains from its improved access to US gateways and its code sharing agreement with American Airlines.

In 1995, an 18% growth in passenger numbers translated into a similar rise in revenues, which rose above $1.2 billion. Productivity rose by 14% and aircraft utilisation by 2%. Load factors rose to 73.8%.

El Al does not comment on its progress towards privatisation, but a revised plan, possibly including a strategic partner, is expected to emerge shortly.

Source: Flight International