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Airlines

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Name: EL AL ISRAEL AIRLINES
7JetSet7 Code: ELA
Status: Operational
Region: MIDDLE EAST
City: TEL AVIV
Country: ISRAEL
Employees 3540
Web: elal.co.il
Email: corporate@elal.co.il
Telephone: +972 (3) 971 6111
Fax: +972 (3) 971 200
Sita: TLVMELY
Background
(definitions)

Click below for data links:
ELA-2004-05-NEWS
ELA-2004-05-NEWS-A
ELA-2004-07-NEWS
ELA-2005-01-A
ELA-2005-02-A
ELA-2005-06-A
ELA-2007-TOP-WLD-CARGO
ELA-2008-02-PLANS
ELA-2013-12 - UP 737-800
ELA-2017-07 - Israer A320-200.jpg
ELA-CARGO
ELA-LOGO
ELA-LOGO - 2013-03
ELA-NEWS-NNA SALE

FORMED IN 1948 AND STARTED OPERATIONS IN 1949. SCHEDULED & CHARTER, INTERNATIONAL, PASSENGER & CARGO, JET AIRPLANE SERVICES.

ADDRESS:
PO BOX 41
BEN GURION INTERNATIONAL AIRPORT
TEL AVIV 70100, ISRAEL

ISRAEL (STATE OF ISRAEL): POPULATION: 6.6 MILLION. ISRAEL WAS BORN IN BATTLE AFTER BRITISH FORCES LEFT PALESTINE IN 1948. ISRAEL HAS FOUGHT 6 WARS. ITS HISTORIC SUCCESSES IN AGRICULTURE, INDUSTRY, TRADE, AND TOURISM, HAVE BEEN ECLIPSED BY CONFLICT. IN ITS 5-DECADE STRUGGLE WITH THE PALESTINIAN ARABS, IT DISPLACED, IT HAS MADE PEACEFUL OVERTURES, YET CONTINUES TO EXPAND ITS SETTLEMENTS IN PALESTINIAN LANDS. IT COVERS AN AREA OF 20,770 SQ KM, ITS CAPITAL CITY IS JERUSALEM, AND ITS OFFICIAL LANGUAGE IS HEBREW.

JUNE 1993: 1992 = +$31.5 MILLION (+$38.9 MILLION) (NET PROFIT) (7TH YEAR IN A ROW): +9.7% (RPK) (PASSENGER TRAFFIC), +11.6% PASSENGERS (PAX), -6.1% (FTK) (FREIGHT TRAFFIC).

JANUARY 1994: 1993 = +$9.9 MILLION (NET PROFIT).

MAY 1994: 747-458 DELIVERY.

JULY 1994: 1ST 6 MONTHS 1994 = +7.7% (RPK) TRAFFIC, +14.1% PASSENGERS (PAX), -0.5% (FTK) FREIGHT TRAFFIC.

FEBRUARY 1995: 1994 = +$14 MILLION: +15.5% PASSENGERS (PAX).

EMERGED FROM RECEIVERSHIP AFTER 13 YEARS, PLANNING PRIVATIZATION.

MARCH 1995: 1 747-200F (JT9D-70A), EX-SINGAPORE AIRLINES (SIA).

JUNE 1995: 3RD 747-458 FOR ROUTES TO LOS ANGELES (LAX), NEWARK, & NEW YORK (JFK).

DECEMBER 1995: HAS A PRATT & WHITNEY (P&W) CONTRACT FOR 15 YEARS MAINTENANCE ON (PW4056) ENGINES FOR 747-400'S.

NEW ROUTE TO NEW YORK (JFK), & SAN FRANCISCO (SFO) (757), WITH USA LEG, OPERATED BY NORTH AMERICAN AIRLINES (NNA).

JANUARY 1996: 1995 = +$15 MILLION (10TH YEAR): +18% PASSENGERS (PAX) (2.93 MILLION PAX), +6% (FTK) FREIGHT TRAFFIC, 73.8% LF LOAD FACTOR.

MARCH 1996: RAFI HARLEV, PRESIDENT, RESIGNED BECAUSE GOVERNMENT UNWILLING TO PRIVATIZE.

LETTER OF INTENT (LOI) TO LEASE 757-200 (RB211-535E4) (24136) EX-BRITANNIA AIRWAYS (BRI), FROM ING AVIATION IN JUNE 1996.

APRIL 1996: CODE SHARE WITH AMERICAN AIRLINES (AAL), TO CHICAGO (ORD), LOS ANGELES (LAX), MIAMI (MIA), & NEWARK. TO SAN FRANCISCO (SFO) (747-400).

1 757 (BRI) 3 YEAR LEASED.

MAY 1996: 1 ORDER (MARCH 1997) 757 (27622), (ILF) LEASED.

SEPTEMBER 1996: JOEL FELDSCHUH, PRESIDENT, 47 YEARS OLD, EX- F-15 PILOT, PRESIDENT OF COMPUTER SOFTWARE COMPANY & VOLKSWAGON LOCAL SALES.

OCTOBER 1996: CONCERN THAT LOSSES FOR 1996 = -$90 MILLION FROM "OPEN SKY" POLICY AND HIGH SECURITY EXPENSES. POSSIBLE GROUNDING OF SOME AIRPLANES LIMITING FLIGHTS, AND DEVELOPMENTS.

YEHEZKEL MOALEM REPLACED H VARASANO SUPERINTENDANT RELIABILITY.

DECEMBER 1996: 757 EXTENDED TWIN-ENGINE OPERATIONS (ETOPS): 6 FLIGHTS/MONTH OVER NORTH ATLANTIC, 1,330 FLIGHTS OVER AFRICA/ASIA.

1996 = 7.153 BILLION (RPM) TRAFFIC (WORLD HIGHEST #41).

JANUARY 1997: PLANS TO LEASE 757 ON SATURDAYS TO UGANDA AIRLINES (UGA) FOR ROUTE TO ENTEBBE BY BRITISH CREW - FRIDAY TO NAIROBI.

1996 = -$100 MILLION: DUE TO STEEP DROP IN INCOME, AND RISE OF FUEL PRICES.

NOT FLYING ON THE JEWISH SABATH & OTHER RELIGIOUS HOLIDAYS. AN $80 MILLION ANNUAL SECURITY BUDGET DOES NOT HELP.

MARCH 1997: TRANSPORT MINISTRY AGREES TO SELL HOLDINGS THIS YEAR, BUT STILL WILL NOT ALLOW FLIGHTS ON SATURDAYS (SABATH).

757 DELIVERY.

APRIL 1997: CONSIDERING +1 727-200F, LEASED.

JUNE 1997: THE GOVERNMENT IS TO ALLOW PRIVATIZATION BY THE END OF 1998. IF EL AL (ELA) WAS ABLE TO FLY ON SABATH = +$40 MILLION/YEAR.

TO BALTIMORE, WASHINGTON, DALLAS/FORT WORTH (DFW), AND ORLANDO.

AT "C" CHECK OF 747-200C (RJ152), CONVERTED CARGO TO PASSENGER CONFIGURATION.

TO LEASE 747-400 (4TH) FROM (ILF). 1 757-200ER DELIVERY (5TH ER, 8TH 757).

JULY 1997: AT PRESS CONFERENCE, INDICATED INTENTION TO BUY 5 737-SIZE & 5 777-SIZE AIRPLANES IN NEXT FEW YEARS AND +1 (4TH) 747-400 IN 1999.

AUGUST 1997: MOTI SONSINO DIRECTOR PLANNING & LOGISTICS; S RAYENBACK DIRECTOR HEAVY MAINTENANCE & SHOPS.

WORLD RECORD FLIGHT WESTBOUND TO NEW YORK (JFK): 9 HOURS 59 MINUTES (747-400).

4TH ORDER (MAY 1999) 747-400.

OCTOBER 1997: 3,524 EMPLOYEES.

SOME OF EL AL (ELA) FLEET HAS AIRLINE'S NEW COMMERCIAL SLOGAN IN HEBREW SCRIPT, BEHIND THE AIRLINE NAME "ABOVE AND BEYOND."

DECEMBER 1997: 1ST 9 MONTHS FISCAL YEAR (FY) 1997 = +$21.4 MILLION (-$43 MILLION).

EL AL (ELA) SELECTS A319 FOR SHORT-HAUL NEEDS WITH POSSIBLE 5 ORDERS (1999). BOEING (TBC) HAS INTERNET SITE, RECEIVING 3,000 HITS/DAY, TO COUNTER WITH 737-800 OFFER. SUBSEQUENTLY, (TBC) WINS 5/3 ORDERS (FEBRUARY 1999) 737-800'S.

JANUARY 1998: ISRAELI AIRCRAFT INDUSTRIES (IAI) SUB-CONTRACTS TRANSAERO (TRX) 757 "C" MAINTENANCE CHECKS TO EL AL (ELA). 1ST COMPLETED LAST MONTH.

1 ORDER MD-11, WORLD AIRWAYS (WLD) WET-LEASED JUNE - OCTOBER 1998.

APRIL 1998: CAPTAIN Y ZEMER 737NG PROJECT MANAGER. CAPTAIN Y SHIMONY DEPUTY 737NG PROJECT MANAGER.

3,407 EMPLOYEES.

(http://www.elal.co.il).

MAY 1998: FISCAL YEAR (FY) 1997 = -$4.2 MILLION (-$83.1 MILLION): -2.5% EMPLOYEES, 72.5% LF LOAD FACTOR, ~1 MILLION PASSENGERS (PAX).

+1 ORDER (1999-01) 747-400 (PW4056) (TOTAL 4).

JUNE 1998: GOVERNMENT OK'S 49% SALE WITH PRIVATIZATION TO TAKE ANOTHER 6 MONTHS.

IN 1999 ITS 50TH-ANNIVERSARY YEAR, IT WILL RECEIVE 5 737-700/-800'S & ITS 4TH 747-400, & INTRODUCE NEW LOGO AND UNIFORMS.

AUGUST 1998: IN 1999, TO TAKE DELIVERY OF 5 737-NG'S, 1 747-400, & 2 767-200ER'S. PLANS TO SELL 2 747-200'S & SELL OR LEASE OUT 2 757'S. CURRENTLY SELLING 747-100'S TO EVERGREEN INTERNATIONAL (EVR). 2 ORDERS (1999-02) 767-200ER (PW4060) (24832; 24854), EX-AIR FRANCE (AFA).

SEPTEMBER 1998: MIKE ORON RESIDENT REPRESENTATIVE AT BOEING (TBC) EX-DEPUTY DIRECTOR ENGINEERING (AVIONICS).

COOPERATIVE AGREEMENT WITH VASP (VSP) TO SAO PAULO.

1 MD-11, WORLD AIRWAYS (WLD) WET-LEASED FOR ISRAELI HOLIDAY.

OCTOBER 1998: 1 747-200F, ATLAS AIR (TLS) WET-LEASED.

NOVEMBER 1998: TO CODE SHARE WITH IBERIA AIRLINES (IBE) IN 1/99. CODE SHARE WITH VASP (VSP), TO SAO PAULO.

A FRUCHTER VP ENGINEERING, & D GURALNIK VISITED BOEING SEATTLE, HOSTED BY TOM SCHICK EXECUTIVE VP CUSTOMER SUPPORT.

747-245F (4X-AXK) PAINTED ALL-WHITE WITH "HERTZ - WHEREVER YOU ARE, WE'LL BE THERE."

JANUARY 1999: CODE SHARE WITH SABENA (SAB) TO BRUSSELS.

FEBRUARY 1999: YEHUDA LEVY DIRECTOR AIRCRAFT MAINTENANCE, REPLACES MICHAEL YACOBOVITCH NOW DEPUTY GENERAL MANAGER NORTH/CENTRAL AMERICA.

NEW YORK (JFK) - ROME ROUTE.

737-758 DELIVERY. 1ST 737-858 (CFM56-7B27) (29957, 4X-EKA) DELIVERY, 146 PAX, 2 CLASS.

APRIL 1999: 3,407 EMPLOYEES.

747-124SF (19735, 4X-AXA) REMOVED FROM SERVICE, TO BE USED FOR PARTS. 2ND 737-800 (YC592, 4X-EKB) DELIVERY. 2ND 767-27E (PW4056), EX-AIR FRANCE (AFA), DELIVERY. 2 737-200'S (4X-ABN; 4X-ABO) FOR SALE.

MAY 1999: 4TH 747-458 (4X-ELD "JERUSALEM") DELIVERY.

JUNE 1999: 1998 TOP WORLD AIRLINES TRAFFIC (RPM) (BILLION):
37 BEJ 9.07; 38 JAS 8.77; 39 THY 8.10; 40 EAD 8.07; 41 AIN 7.68; 42 ELA 7.55; 43 GIA 7.09; 44 PIA 6.82; 45 AMX 6.66; 46 FIN 6.66.

AUGUST 1999: 2 737-258'S (22856; 22857) SOLD TO AEROEL, ISRAEL, (AEW). 737-758 (29960, 4X-EKD) DELIVERY.

SEPTEMBER 1999: NEXT MONTH TO CODE SHARE WITH (LOT) POLISH AIRLINES, TO WARSAW.

OCTOBER 1999: $400 MILLION, 3 ORDERS (2001-02) 777-200'S. 4/6 ORDERS A330-200'S TO REPLACE 767'S.

NOVEMBER 1999: 1998 = -$22.7 MILLION (-$4.2 MILLION): 7.55 BILLION (RPM) (+5.7%), 1.52 BILLION (FTM) FREIGHT (+1.9%).

737-258 (22298, 4X-ABN), RETURNED FROM (AEW).

DECEMBER 1999: 747-200 (20135) REMOVED FROM SERVICE. 2ND 737-700 DELIVERY.

JANUARY 2000: UNITED NATIONS (UN) ORDERS IRAQ TO PAY EL AL (ELA), $7 MILLION COMPENSATION FOR GULF WAR COSTS TO AIRLINE FOR ITS AVOIDANCE MEASURES FOR SCUD MISSILES.

FEBRUARY 2000: HIRES 1ST 2 ISRAELI, ARAB CABIN ATTENDANTS (CA), FLUENT IN ENGLISH, HEBREW, AND ARABIC.

IN MARCH 2000, CODE SHARE WITH SWISSAIR (SWS), TO GENEVA.

3,417 EMPLOYEES.

MARCH 2000: SELECTED COMPUTER ASSOCIATES (CA), UNICENTER TRAINING PACKAGE TO MANAGE ITS E-COMMERCE INFRASTRUCTURE. WILL MIGRATE FROM A CENTRALIZED, INFO TECHNOLOGY (IT), MANAGEMENT INFRASTRUCTURE, TO ONE THAT IS DISTRIBUTED, PICKING CA'S UNICENTER FOR ITS "SCALABILITY," & WILL USE IT TO MANAGE DESKTOP PC'S, AUTOMATIC SOFTWARE DISTRIBUTION, AS WELL AS OVERSEE E-MAIL, DATABASE, SERVER, & ITS BASIC WEBSITE.

CONSIDERING TAKING STAKE IN BANKRUPT TOWER AIR (TOW) TO ENABLE IT TO FLY ON SABATH.

1999 = 12.66 BILLION (RPK) TRAFFIC (+5.7%); 1.20 BILLION (FTK) FREIGHT (-1%); 2.93 MILLION PASSENGERS (PAX) (+1%).

RETURNS POPE JOHN PAUL II TO ROME, ON ITS NEWEST 747-400.

APRIL 2000: CODE SHARE WITH ROYAL AIR MAROC (RAM), TO MOROCCO.

3,540 EMPLOYEES.

2 737-258 (22856; 22857) SOLD NATIONWIDE. 757-200 (4X-EBL) TRADED IN TO BOEING (TBC) AS PART OF 777 BUY.

MAY 2000: SELECTS (SITA) TO PROVIDE PAX WORLDWIDE, WITH ONLINE TICKET SALES OVER THE INTERNET, USING I-TRAVELDIRECT, BOOKING ENGINE. (SITA) OFFERS THIS SERVICE, IN PARTNERSHIP WITH EQUANT APPLICATION SERVICES AS A FULLY MANAGED SERVICE, USING ITS WEB HOSTING FACILITIES, OR INSTALLING IT AT SPECIFIC CUSTOMER SITES. ADDITIONAL CHANNELS SUCH AS WAP, KIOSKS, PERSONAL DIGITAL ASSISTANTS, & DIGITAL TV, CAN BE ADDED WITHOUT CHANGING EXISTING CORE TECHNOLOGY.

757-27B (24136) RETURNED TO (ING) LESSOR.

JUNE 2000: EL AL (ELA) 747-400 SETS SPEED RECORD WITH NEW YORK (JFK) - TEL AVIV, IN 8 HOURS, 58 MINUTES. 1 747-300 & 1 MD-11, WORLD AIRWAYS (WLD) WET-LEASED. PLANS FOR +1 737-800.

JULY 2000: IN NOVEMBER 2000, TO CODE SHARE WITH AUSTRIAN AIRLINES (AUL), TO VIENNA.

1999 = +$10 MILLION (+$22.7 MILLION): 13.58 BILLION (RPK) TRAFFIC (+7.3%); 1.09 BILLION (FTK) FREIGHT (-8.5%); 3.14 MILLION PASSENGERS (PAX) (+7.3%); 3,539 EMPLOYEES.

AUGUST 2000: (http://www.elal.com).

1 747-341B (701-24106, /88 51 10, TF-ATH), AIR ATLANTA ICELANDIC (AID) WET-LEASED FOR SUMMER, TIL 2000-11.

SEPTEMBER 2000: JOEL FELDSCHUH (CEO) INTENDS TO RESIGN NEXT MONTH, AFTER A ROCKY RELATIONSHIP WITH GOVERNMENTAL OFFICIALS.

ONLINE BOOKING ONLY AVAILABLE TO ISRAELI RESIDENTS. WILL EXPAND INTERNATIONALLY WITHIN 1 YEAR.

GOVERNMENT FINALLY OK'S OPERATIONS ON THE JEWISH SABATH, ALTHOUGH ORTHODOX MEMBERS OF PARLIAMENT ARE THREATENING REPRISALS, INCLUDING BRINGING DOWN THE COALITION GOVERNMENT, IF EL AL (ELA) DOES SO.

OCTOBER 2000: IN MARCH 2001, TO CODE SHARE WITH DELTA AIRLINES (DAL), TO NEW YORK (JFK), AND ON TO ATLANTA, BOSTON, DALLAS/FORT WORTH (DFW) DENVER, PHOENIX, SALT LAKE CITY, SAN FRANCISCO (SFO), SEATTLE, & WASHINGTON.

DAVID HERMESH, PRESIDENT.

NOVEMBER 2000: LAYS OFF 500 EMPLOYEES, DUE TO POLITICAL UNREST WITH PALESTINIAN SITUATION, AND DROP OFF OF TRAFFIC TO ISRAEL. NEW 767 OPERATOR, AIR SOPHIA, ASKS (ELA) FOR MAINTENANCE SUPPORT.

747-258B (20274) RETIRED AND USED FOR TRAINING. INDEFINITELY SUSPENDS ITS PLAN TO ACQUIRE 4 A330'S. SELLS 1 747-258C (21190) TO HYDRO AIR (HYR), SOUTH AFRICA, FOR $13.5 MILLION.

JANUARY 2001: PROJECTS 2000 = -$50 TO 70 MILLION.

CONSIDERING MAKING BID FOR 20% OF ARKIA (ARK), CURRENTLY HELD BY KNAFAIM, (ARK) HOLDING COMPANY. 58% OF KNAFAIM SHARES ARE HELD BY THE BOROVITCH FAMILY, WITH KOOR, ISRAEL'S LARGEST INDUSTRIAL CONCERN, OWNING 28%, AND 14% HELD BY PUBLIC INVESTORS.

757-258 (23917) RETURNED TO BOEING AS OFFSET FOR 777 ORDERS.

FEBRUARY 2001: NEXT MONTH TO CODE SHARE WITH DELTA AIRLINES (DAL), TO NEW YORK (JFK).

OFFERS VOLUNTARY RETIREMENT PROGRAM WITH INTENT OF REDUCING STAFF BY 300.

1ST 777-200 DELIVERY. PLANS +4 777-200'S TO REPLACE 747-200 FLEET.

MARCH 2001: WILL PROVIDE MAINTENANCE FOR 1 OF ARKIA (ARK) 757-300, SINCE (ELA) WILL USE IT FOR SUN D'OR, (ELA)'S CHARTER SUBSIDIARY.

TO BEIJING (767, 2/WEEK).

1 757-258 (23918, 4X-EBM), LEASED TO ISRAIR (ISA).

APRIL 2001: CONTRACT TO (AMECO) (BEJ), CHINA FOR SECTION 41 MODIFICATIONS ON 2 747-200F'S (22150; 22151).

MICHAEL LEVY, CHAIRMAN.

2000 = -$109 MILLION. PLANS TO CUT STAFF BY -15 TO -17%.

1 757-3E7 (30179, 4X-BAW), ARKIA (ARK) LEASED. 3RD 777-200 DELIVERY. +1 ORDER 777-200ER (4TH). +2 ORDERS (2002-02) 747-400'S, LEASED. PLANS TO SELL 6 747-200'S, AND 2 757-200'S.

MAY 2001: PLANS TO CUT -500 JOBS FROM 3,400 EMPLOYEES.

HAS SUFFERED -40% REDUCTION IN INCOMING TRAFFIC, DUE TO UNREST BETWEEN ISRAEL AND THE PALESTINIAN AUTHORITY.

JUNE 2001: 747-258B (164-20274, /71 83 15), SCRAPPED.

AUGUST 2001: 3,540 EMPLOYEES.

1ST 6 MONTHS = -$83 MILLION. 2ND QUARTER = -$35 MILLION.

1ST FEMALE PILOT FLIES 737 TO EUROPE FOR EL AL (ELA).

IN 2001-11, CHARTERS TO SALVADOR & RIO DE JANEIRO, BRAZIL (767-200ER). TO COLOMBO (767F).

OCTOBER 2001: TO LAY OFF -240 EMPLOYEES.

757-258 (24254) SOLD TO BOEING (TBC).

NOVEMBER 2001: MEMO OF UNDERSTANDING (MOU) WITH BOEING (TBC) FOR JOINT VENTURE, TO STUDY FEASIBILITY OF CREATING A WORLD-CLASS, SECURITY AND SAFETY BUSINESS, FOR AIRLINES, AIRPORTS AND GOVERNMENTS WORLDWIDE.

DECEMBER 2001: TO RIO DE JANEIRO (CHARTER FLIGHTS).

PROJECTS TO LOSE -$95 MILLION IN 2001 (LESS THAN ORIGINALLY PREDICTED), HELPED BY LAYING OFF -260 EMPLOYEES.

CONTRACTS CONSULTANTS, MCKINSEY & COMPANY, TO SUBMIT PROPOSALS FOR FORTIFYING POOR, FINANCIAL STATUS, OF EL AL (ELA), RESTRUCTURING, AND HOW TO OUTSOURCE MAINTENANCE OPERATIONS.

JANUARY 2002: EXTENDS FLIGHTS TO TORONTO, ONTO LOS ANGELES (LAX).

2001 = 13.15 BILLION (RPK) TRAFFIC (-10.2%); 743.65 MILLION (FTK) FREIGHT (-16.8%); 2.96 MILLION PASSENGERS (PAX) (-10.8%).

2001 TOP 50 WORLD AIRLINES - TRAFFIC (BILLION) (RPM):
1 UAL 116.60; 2 AAL 106.15; 3 DAL 97.60; 4 NWA 73.11; 5 BAB 64.24; 6 AFA 59.54; 7 CAL 58.76; 8 DLH 56.76; 9 JAL 50.77; 10 USA 45.93; 11 SWA 44.50; 12 SIA 42.76; 13 QAN 42.14; 14 ACN 41.49; 15 KLM 35.76; 16 ANA 33.16; 17 CAT 27.81; 18 TII 27.43; 19 IBE 25.64; 20 KAL 23.73; 21 ALI 22.45; 22 MAS 22.29; 23 AMW 19.06; 24 VAA 17.65; 25 VAR 16.02; 26 CHI 16.00; 27 EAD 14.37; 28 SAS 14.26; 29 ANZ 13.54; 30 SAA 12.70; 31 SVA 12.56; 32 BEJ 12.39; 33 ASA 12.23; 34 JAS 10.06; 35 THY 9.35; 36 AMX 8.51; 37 PAL 8.36; 38 GIA 8.15; 39 CMA 7.99; 40 ELA 7.79; 41 GUL 7.65; 42 PIA 7.24; 43 AIN 7.10; 44 TAP 6.43; 45 EGP 5.53; 46 OLY 5.24; 47 AUL 5.06; 48 FIN 4.93; 49 IND 4.52; 50 CQT 4.51.

FEBRUARY 2002: 1 737-800, EX-NORTH AMERICAN (NNA), GECAS (GEF) 4 YEAR LEASED.

APRIL 2002: 3,400 EMPLOYEES.

MAIN BASE: TEL AVIV - BEN GURION INTERNATIONAL AIRPORT (TLV).

June 2002: 2001 = -$85.20 million (-$109.40 million): 13.15 Billion (RPK) traffic (-10.2%); 2.96 Million passengers (PAX) (-10.8%); 743.65 Million (FTK) freight (-16.8%); 3,400 employees (-4%).

1 747-200C (21594, 4X-AXF), converted to all-(Y) passenger layout, and 1 757-258 (25036, 4X-EBT), 235Y, both transferred, to subsidiary, Sun D'Or, for the summer season. The 747 will be operated to New York (JFK), via Amsterdam (3/week). The 757 will replace 1 757-300 (30179, 4X-BAW), Arkia (ARK) wet-leased, and will be used, for low cost charter flights. 4th 777-258ER (33169, 4X-ECD) delivery.

January 2003: Code share with Delta (DAL) from New York (JFK) to 8 USA destinations. Also, connect at Chicago (ORD), Newark, Miami, Los Angeles, and Toronto. Joint flights with Air Canada (ACN) between Toronto and Boston, Chicago, San Francisco, Vancouver, and Montreal.

February 2003: Privatization is back on target for May 2003, with the sale of around 50% on the Tel Aviv Stock Exchange. Expects full privatization within 2 years.

For 1st time since the Lebanon War in 1982, in 2002, the number of tourists visiting Israel dropped below 1 Million with only 862,000 (-30%) ((-70%)).

March 2003: 2002 = -$23.7 Million (-$85.2 Million), despite ongoing Palestinian Intifada, the threat of war in Iraq, a -27% drop in inbound tourism and -8% decline in outbound tourism.

With looming war with Iraq, cuts -10% of its flights from Israel.

El Al (ELA) faces possible closure if privatization plans falter before being set in motion.

April 2003: 3,397 employees. (http://www.elal.co.il).

May 2003: Privatization finally approved. Government's 97.25% stake will be sold on the Tel Aviv Stock Exchange for $100 to $150 Million. The remaining 2.75%, which will also be sold, is held by 2 quasi-government agencies.

Increased its commercial market share at Ben-Gurion International Airport +5 points to 48%. Was impacted by domestic recession and the collapse of the tourist industry, under the weight of the Palestinian Intifada.

1 757-236 (24120), ex-British Airways (BAB), (BBB) leased, wet-leased to Sun D'Or for summer season.

June 2003: Knafaim-Arkia Holdings, a family-controlled enterprise, headed by Israel Borovich, Arkia (ARK) CEO, was the single largest investor with 5% of El Al (ELA) bought for $5 Million in a recent Initial Public Offering (IPO).

July 2003: 2002 = -$23.7M (-$85.2M): 11.85B RPK (-5.3%); 73.9% LF; 909.83M FTK (+23.4%); 2.72M PAX (-7.2%).

2002 TOP WORLD AIRLINES TRAFFIC RPK (B):
46 (THY) 16.59; 47 (ATZ) 16.30; 48 (LTU) 16.10; 49 (JAA) 15.90; 50 (HAP) 14.40; 51 (JMA) 13.97; 52 (PAL) 13.52; 53 (AMX) 13.31; 54 (AIN) 13.25; 55 (FIN) 12.79; 56 (BER) 12.73; 57 (ELA) 12.54; 58 (TPR) 12.08; 59 (MON) 11.86; 60 (GUL) 11.84; 61 (CMA) 11.74; 62 (COR) 11.47.

Sells its 24.9% stake in North American Airlines (NNA) back to (NNA) for $8.7M. Also sold its option to buy another 25%. Will record a capital gain of $5M from the transaction.

September 2003: 2nd Q = -$28.8M (-$9.42M): 75% LF. 41% (+3.3) share of scheduled & charter passenger RPK's (+6.1%) at Tel Aviv's Ben Gurion International Airport.

Tel Aviv - Newark - Miami (2/week), replacing connecting service previously operated by North American (NNA).

December 2003: 3rd Q = +$60.9M (+42%) (+$42.7M). 1st 9 months = +$12.4M (+$5.1M).

January 2003: 4th Q = +$9.6M (-$26.3M). 2003 = +# ILS 28M/$6.35M (-$6.4M): 12.61B RPK (+.7%); 77% LF; 2.79M PAX (+3%); 926.09M FTK (-3.3%).

February 2004: 757-27B (178-24137, 4X-EBY), Air Holland (HOL) leased.

March 2004: Arkia (ARK) asks for merger with El Al (ELA). Kafaim-Arkia Holdings wants to exercise options in stages to acquire 51%.

767-330ER (381-25208, 4X-EAJ) (GEF) leased.

April 2004: Arkia (ARK) and Israir (ISA) were denied authority to operate scheduled international services in competition with El Al (ELA).

May 2004: 1st Q = +$4.5M (-$33.5M): 1st +ve winter Q since /90!

June 2004: British Airways (BAB) and Qantas (QAN) implemented the latest release of Sabre AirFlite SlotManager. Delta Airlines (DAL); Lufthansa (DLH); El Al (ELA); & Japan Airlines (JAL) also use the new system.

(ELA) has begun incorporating women into the ranks of undercover sky marshals. An Israeli security official said "If a woman can fly an F-16, there is no reason to think a woman can't protect pilots and their passengers."

August 2004: 2nd Q = +$7M (-$28.8M).

November 2004: Tel Aviv's Ben Gurion Airport, after more than 5 years of frustrating construction delays, opens Terminal 3, its lavish $1B international passenger facility. It sprawls over 270,000 sq m and including 133 check-in counters & 22 moving sudewalks. Airbridges provide for docking at three concourses with 8 boarding positions each. The new international terminal also has 24 remote stands. Terminal 3 is 3 km from Terminal 1, the former international terminal, which now only serves domestic flights. Terminal 2 will be razed to make way for a new cargo terminal. A new 20 km, 12 minutes, intercity Israel Railways line links Terminal 2 with a station in Tel Aviv. The rail link is projected to serve 100,000 passengers/month.

747-2B5BF (513-22485, 4X-AXM), ex-CAL Cargo (CRG).

December 2004: 3rd Q = +$47.4M (-22%) (+$61M). 1st 9 months = +$58.9M (-$3.2M).

Fully privatized since mid-2004, El Al (ELA) is the target of a takeover bid by Knafaim-Arkia (ARK) Holdings Ltd. The group is expected to raise its stake from 22.7% to 51.9% by exercising all of its share options. The move will cost Knafiam $16M. El Al (ELA) has been controlled by the Israeli government for 55 years.

Installs a Flight Guard Israeli-developed antimissile system beginning with 1 Boeing jet, at a cost of $1M/jet airplane. Flight Guard, was developed by Israeli Military Industries together with Elta Systems, a subsidiary of Israel Aircraft Industries (IAI), and has been used by the military for several years. It is designed to automatically respond to an approaching heat-seeking missile, firing flares that act as decoys and divert the missile. So far, >150 similar systems have been installed on civilian airplanes throughout the world, especially on private jets belonging to tycoons and state leaders. The devices have not been approved by (FAA), but negotiations are taking place with US firms on joint development, to facilitate obtaining (FAA) certification.

January 2005: Amos Shapira, President & CEO resigned in the wake of El Al (ELA)'s takeover by Knafaim-Arkia Holdings. Knafaim is controlled by Israel (Izzy) Borovich with his brother Dedi.

Signs up for Connexion by Boeing Internet service for passengers to be insatlled on 747-400's & 777's starting in 6/05.

February 2005: 8.17% sold to workers union.

March 2005: Upgrades to in-flight services on 747-400's & 777's between the US & Israel includes new video-on-demand services in all classes, plus an agreement with Connexion by Boeing to install high-speed internet service. Installations will start in 6/05 and be completed by end of 2006 at an estimated cost of $3M.

2004 = +$33.1M (+$6.4M) (net profit): 14,.36B RPK (+18.5%) (passenger traffic); +18.5% ASK; 77% LF (0) (load factor); +15% passengers (PAX); +17% FTK (freight traffic).

May 2005: 5,417 employees.

August 2005: 3,213 employees (+1.7%).

2nd Q = +$29.9M (x 4): +16% ASK.

Isaac Nijankin, General Manager Cargo, North America, based in New York, ex-Varig (VAR).

October 2005: El Al (ELA) signed for two additional 777-200ERs for delivery in 2007 after its board approved the purchase.

737-86Q (30287, 4X-EKO), HapagFly (HAP) leased.

November 2005: El Al Israel Airlines (ELA) earned +$52.2 million for the third quarter ended September 30, up +10.1% over +$47.4 million netted in the year-ago period. Revenues rose +17% to $485.2 million. The strong quarterly performance pushed nine-month earnings to approximately +$63 million, the carrier said, the highest total for El Al (ELA) in any nine-month period over the past decade.

The airline noted that the results were achieved despite the challenges associated with high fuel prices. The market price of fuel rose by about +43% compared to the same period last year and added +$50 million to its expenses in the quarter before hedging, which saved it approximately -$23 million in fuel costs.

"Our quarterly profits were yet again a strong sign of El Al (ELA)'s success and financial security amid ongoing challenges in the airline industry," said Chairman Israel (Izzy) Borovich. "We expect this trend to continue well into the future."

December 2005: ILFC (ILF) announced the lease of a used 737-800 to El Al (ELA) for 5 years. The airplane is scheduled for delivery in Feb 2006.

El Al Israel Airlines (ELA) signed an agreement for the purchase of two 777-200ERs. The airplanes, valued at $362 million and powered by (Trent 892)s, will be delivered in 2007. "The purchase of the 777s is in accordance with El Al (ELA)'s business strategy to acquire widebody long-range airplanes," President Haim Romano said. The carrier currently operates four 777s on routes between Tel Aviv and New York and the Far East.

January 2006: Israel Aircraft Industries (IAI)'s Elta Systems Group said it received authorization from Israel's (CAA) to install its Flight Guard anti-Manpads system on 767 passenger airplanes. According to press reports, El Al (ELA) will install the system on six 767s.

Israir Airlines (ISA) received permission yesterday from the Israeli government to compete with El Al (ELA) on the Tel Aviv - New York (JFK) route, according to media reports. El Al (ELA) reportedly intends to seek a legal remedy, claiming the government promised it exclusivity. Israir (ISA) currently operates charter services to (JFK).

El Al (ELA) will inaugurate nonstop service from Tel Aviv (TLV) to Miami on March 28th. The airline will operate 2 flights a week, departing (TLV) on Tuesdays & Fridays and Miami on Tuesdays & Saturdays and using a 767-200. Currently the airline operates 2 flights a week via Newark.

February 2006: El Al (ELA) will introduce an onboard calling service on its 767s through the Iridium satellite network for $1.60 per minute. Gilat Satcom through its GayaCom subsidiary is supplying the Iridium terminals and calling card services.

737-8Q8 (30639, 4X-EKP), (ILF) 5 year leased.

April 2006: In its first year following its transfer from the Israeli government to Knafaim Arkia Holdings, El Al (ELA) reported the highest annual net earnings in its history, a +$64.1 million profit, that represented a +94% increase over 2004 earnings of +$33.1 million.

Revenues rose +17% to $1.62 billion against a -9.7% decline in operating expenses to $1.2 billion. The airline said it realized +$65 million in fuel hedge gains as fuel costs climbed +44% to $388 million. Operating profit jumped +53.7% to +$89 million.

"It gives me great joy to see how diligently El Al (ELA)'s employees have dedicated themselves to reaching the objectives of this competitive commercial company," said President Haim Romano. "These impressive achievements are also, without a doubt, a direct result of El Al (ELA)'s investment in our route expansion, increased frequency, airplane upgrades and improved customer service."

Load factor rose +2.5 points to 79.4% LF, which the carrier said came against increased competition as interest in travel to Israel has risen and the Civil Aviation Authority (CAA) has authorized more flights into the country. El Al (ELA) responded with an expanded route network. In the first three months of 2006, it added frequencies to several international destinations, and it launched twice-weekly service to Miami last week. It also upgraded its website, call center, premium seating and airport service.

May 2006: El Al Israel Airlines (ELA) posted a first-quarter net loss of -$12.4 million, a +33% improvement over a net loss of -$18.5 million in the year-ago period.

The carrier said "the drastic increase in fuel costs" prevented it from recording a quarterly profit on the heels of its highest-ever full-year profit of +$64.1 million in 2005. It added that the winter quarter is usually its weakest and that prospects for the rest of 2006 remain strong.

Revenues increased +17% to $372 million as passenger traffic grew +21% (RPK) compared to the year-ago quarter. Operating income rose +25% to +$57.7 million compared to +$46 million last year.

CEO, Haim Romano said the carrier faces growing competition. Delta Air Lines (DAL) now operates Atlanta - Tel Aviv flights and Israir (ISA) received government approval over El Al (ELA)'s objections to operate Tel Aviv - New York (JFK) service on a two-year trial basis.

"The company is operating in a sophisticated business market characterized by increasing competition from regular airlines as well as charter companies that have expressed a growing interest in air transport services to and from Israel," Romano said. "The overall [Israeli air transport] market grew by +18% this quarter while El Al (ELA) grew by +3%."

June 2006: El Al (ELA) will upgrade 3 of its weekly Tel Aviv - Los Angeles to nonstop service from July 23rd. Those flights will operate on Tuesdays, Thursdays, & Sundays using a 777-200. The other 2 flights, on Mondays & Wednesdays, will continue to operate via Toronto using a 767-200.

El Al will increase the frequency on its Tel Aviv to Hong Kong route from 3 to 4 flights a week on October 28th. Flights will operate with the 777-200 departing Tel Aviv on Tuesdays, Wednesdays, Saturdays & Sundays and Hong Kong on Mondays, Wednesdays, Thursdays, & Sundays.

El Al (ELA) hopes to make Tel Aviv Ben Gurion Airport a connecting hub for transport to the Far East. "We already have passengers who are traveling with us from Europe and the USA to Asia. We see some potential for us in this business," Chairman, Israel Borovich said at the (IATA) Annual General Meeting (AGM) in Paris. Asian destinations currently comprise Beijing, Hong Kong and Bangkok. El Al (ELA) will add two more 777s by next year and has begun installation of a new business class product, including lie-flat seats, on its long-haul fleet. "The volume of the total investment for the fleet is around $20 million," Borovich said. The carrier still is considering both the 787 and A350 to replace its 767s. It also plans to lease out its five remaining 757s and bring in five 737-800s. Borovich said that it is too early to think about joining an alliance but that in the meantime, he expects passenger growth of +6% - +7% this year.

July 2006: El Al (ELA) issued a profit warning yesterday indicating that hostilities in the Middle East, increased competition and rising fuel costs will lead to a full-year loss, according to press reports. The carrier earned a record +$64.1 million in 2005. "The company does not have a clear forecast as to the amount, especially because of the uncertainty regarding the security situation and its consequences," it said in a statement cited by Reuters. Trading in El Al (ELA) stock and that of majority owner Knafaim-Arkia Holdings was suspended following the announcement.

August 2006: El Al (ELA) reported a second-quarter loss of -$15.1 million, according to press reports, a reversal from the +$29.9 million earned in the year-ago quarter before increased foreign competition, fuel costs and war devastated the bottom line. Revenue increased +2% to $429.2 million. A full-year loss is expected.

The carrier took another hit this week when the Israeli government signed a deal with Alitalia (ALI) to be the preferred carrier for officials flying internationally. "This is part of the government policy, which started with the privatization of El Al (ELA), to purchase tickets based on the cheapest price and not on the basis that it was obligated to buy from El Al (ELA) as it had been accustomed to doing," the Finance Ministry said, according to The Jerusalem Post.

September 2006: El Al (ELA) will increase the frequency on its Tel Aviv to Chicago O'Hare route from 2 to 4 flights a week on October 22nd. Currently, the airline operates 2 flights a week, on Mondays & Wednesdays, via Newark using a 777-200. From October 22nd, flights will operate via Toronto on Mondays, Wednesdays, Thursdays, & Sundays using a 767. El Al (ELA) will increase the frequency on its Tel Aviv to Hong Kong route from 3 to 4 flights a week on October 29th. Currently, the airline operates Tel Aviv departures on Mondays, Wednesdays, & Saturdays. From October 29th, flights will depart Tel Aviv on Tuesdays, Wednesdays, Saturdays, & Sundays, and Hong Kong on Mondays, Wednesdays, Thursdays, & Sundays. All flights operate with 777-200s.

October 2006: Employees = 3,213.

November 2006: El Al (ELA) posted a third-quarter profit of +$1.8 million, a plunge of -96.6% from a +$52.2 million profit in the year-ago quarter, Reuters reported. Revenues declined -7.9% to $447 million.

El Al (ELA) has been asked by the government to continue service from Tel Aviv to Cairo at least through the end of the year, which the airline has agreed to. In the meantime, the airline will look for a solution to continue operations on the route. If not possible, the service might be taken over by Arkia (ARK) or Israir (ISA).

El Al (ELA) leased an additional used 767-300ER from ILFC (ILF) for 5 years. The airplane was due to be delivered during the 2nd half of this month. El Al (ELA) has canceled its 10 787 options, according to a filing with the Tel Aviv Stock Exchange cited by press reports. The carrier said Boeing (TBC) will return the $1.5 million deposit on the airplanes that would have been delivered in 2013 or 2014 if firmed. A Boeing (TBC) spokesperson told Reuters that the company "will continue to communicate with El Al (ELA) concerning its interest in the 787."

December 2006: Tel Aviv - Miami, increased to 3/week, using 767-200s.

February 2007: Tel Aviv - Larnaca, & Tel Aviv - Istanbul discontinued.

March 2007: El Al (ELA) lost -$44.4 million in 2006 owing to capacity increases driven by heightened competition and the war in Lebanon, Israeli business daily "Globes" reported. Sales rose +3% to $1.66 billion but the number of available seats climbed +21%.

July 2007: 777-258ER (36083, 4X-ECE "Sderot"), delivery.

August 2007: El Al (ELA) posted a net profit of +$12.6 million in the second quarter, reversed from a loss of -$10.4 million in the year-ago period, according to a financial release cited by press reports from Israel. A tax benefit of +$5.8 million resulting from its accumulated losses, boosted its final figure to +$18.4 million, "Globes" reported. Revenue climbed +5.5% to $452.8 million, while expenses fell -2.5%. Load factor increased +6.5 points to 86.5% LF, "Reuters" reported, quoting President, Haim Romano as saying that the carrier cut -8% of its personnel during the quarter and "continued with its efficiency program, cut inefficient and unprofitable routes with high security expenses, and increased frequencies on high-demand routes."

777-258ER (36084, 4X-ECF), delivery.

November 2007: El Al (ELA) reported a third-quarter net profit of +$41 million, significantly improved over net income of +$1.4 million in the 2006 third quarter, when its earnings were hurt by conflict in the region, Israel's "Globes" reported. Revenue increased +27% to $567 million and operating profit surged to $63.8 million from $8.5 million in the third quarter of 2006. Fuel costs were up +$6 million, but the carrier said it saved -$5.1 million through its hedging program. It credited an "enormous" growth in passenger traffic, an 87% LF load factor and higher revenue from cargo, airplane leasing and third-party maintenance work for the result. It took delivery of two 777s during the quarter for use on its services to the USA.

El Al Israel Airlines (ELA) Board Chairman, Izzy Borovich attended the (ALTA) Airline Leaders Forum in Cancun as the carrier looks to grow its presence in the region. Approximately 150,000 Israelis visit Latin America each year, Borovich said. Although El Al (ELA) does not have plans to offer direct service to take advantage of this market, he envisions creating bilateral codesharing partnerships to serve the region via European gateways. El Al (ELA) already flies to almost every big city in Europe twice daily, he said, providing a connecting opportunity for a Latin American carrier coming across the Atlantic from the other direction.

El Al (ELA) currently operates an all-Boeing (TBC) fleet of 35 airplanes, comprising 737NGs, 747s, 757s, 767s and 777-200ERs. Although its 757s and 767s are up in years, it has not ordered the 787 Dreamliner, and let some options lapse. Borovich, however, is not concerned that the airline will face ultra-long waits for the 787 Dreamliner, believing that sufficient delivery slots will open up as carriers cancel orders in the future.

December 2007: El Al (ELA) as the Israeli flag carrier, operates international, scheduled passenger, jet airplane flights to destinations in Africa, Asia, Canada, Europe, Middle east, and the USA. All-cargo services are flown to destinations in Asia, Europe, and the USA.

Employees = 3,540.

(IATA) Code: LY - 114. (ICAO) Code: ELY (Callsign - ELAL).

Parent organization/shareholders: Knafaim-Arkia Holdings (40%); private (30%); State (30%); & employees (10%).

Owns: Sun D'Or International Airlines (100%).

Alliances: AeroSvit Airlines (UKA); Austrian (AUL); Bulgaria Air (BUL); Cyprus Airways (CYP); Delta Airlines (DAL); Iberia Airlines (IBE); (LOT) Polish Airlines; South African Airways (SAA); Swiss (CSR); Tandem Aero; & Thai Airways (TII).

Main Base: Tel Aviv Ben Gurion International airport (TLV).

Domestic Scheduled Destinations: Ovda; & Tel Aviv Yafo.

International, Scheduled Destinations: Amsterdam; Athens; Bangkok; Barcelona; Beijing; Berlin; Brussels; Bucharest; Budapest; Cairo; Chicago; Chisinau; Dnepropetrovsk; Frankfurt; Geneva; Hong Kong; Istanbul; Johannesburg; Kiev; Krakow; Larnaca; London; Los Angeles; Madrid; Marseilles; Miami; Milan; Minsk; Moscow; Munich; New York; Newark; Odessa; Paris; Prague; Rome; Simferopol; Sofia; St Petersburg; Toronto; Vienna; Warsaw; & Zurich.

Subsidiary, Sun D'Or International Airlines (ERO):

Address:
PO Box 161
Ben Gurion International Airport, 70100, Israel

(http://www.sundor.co.il). (sundorcommercial@elal.co.il).

Employees = 21.

Parent/shareholders: El Al Israel Airlines (ELA) (100%).

(IATA) Code: 7L. (ICAO) Code: ERO - ECHO ROMEO. (SITA): TLVEBLY.

Main Base: Tel Aviv Ben Gurion International airport (TLV).

Arnon Asherov, CEO, Sun D'Or International Airlines (ERO).

El Al (ELA) will purchase four new 737-800s, one of which will be delivered next year with the remainder arriving in 2009, according to a statement from the carrier cited by "Reuters." El Al (ELA)confirmed that it will acquire the four airplanes, but it was unclear whether it is a new order or a confirmation of previously placed options or purchase rights.

El Al (ELA) and American Airlines (AAL) applied to USA and Israeli authorities to begin codesharing. El Al (ELA) and (AAL) passengers will have access to Israel from 28 North American destinations, up from the current five. In addition, El Al (ELA) passengers will have access to (AAL)'s transatlantic flights, and (AAL) passengers will have access to El Al (ELA)'s Europe - Israel services. Chairman, Israel Borovich said the deal will be "the most comprehensive agreement between El Al (ELA) and any airline."

January 2008: El Al (ELA) named Doron Maor, VP Cargo Operations.

Boeing Commercial (TBC) Aviation Services reached agreement with El Al (ELA) to provide landing gear, Maintenance Repair & Overhaul (MRO) services for the carrier's 777s. The contract features a landing gear exchange program.

El Al (ELA) will receive a significant financial boost from the Israeli government to cover rising security expenses in exchange for allowing smaller rivals Arkia Israel Airlines (ARK) and Israir Airlines (ISA) access to previously monopolized long-haul routes, according to widespread press reports. The move was in response to increasing pressure from foreign carriers, which have increased the number of seats offered to/from the country by 45% since April 2006, according to "Reuters." The government will open up certain European routes to the smaller Israeli airlines in order to enhance compeition, and in exchange will increase its share of airilne security costs to 80% from 50%. El Al (ELA) pays around $90 million per year in security costs, according to Haaretz. Israir (ISA) and Arkia (ARK) said they will market new international services within months.

"El Al (ELA) believes that the government's decision will allow the Israeli carriers to cope with the expanding supply of seats and intensifying competition with the foreign carriers," the flag airline said. "In practice, El Al (ELA) has been contending in a competitive market since the day of its privatization, especially during the last two years, during which the government has been implementing its open skies policy." It added that it expects the government "to assist local carriers in expanding the number of direct route destinations, receiving landing authorizations . . . and in supporting local airline companies in their competition with foreign carriers."

El Al (ELA) will invest $50 million in the purchase of a 14-year-old 747-412 currently leased from Wells Fargo Bank by Singapore Airlines (SIA), according to an El Al (ELA) spokesperson cited by "Reuters." (SIA) will return the airplane this year and El Al (ELA) will take delivery before year end.

Focus Aviation (FOS) said it is the seller of the 747-400 recently purchased by El Al (ELA). The airplane is on lease to Singapore Airlines (SIA) and is due to be returned in the 2008 fourth quarter for subsequent handover to El Al (ELA). The sale was on behalf of Rabobank International and is Focus (FOS)'s 27th of a 747.

February 2008: El Al (ELA) said that it has signed a letter of intent (LOI) to buy three new 737-800s from an unidentified Spanish airline for $145 million, "Reuters" reported. It will take delivery in 2009.

El Al (ELA) announced orders for long-haul Boeing (TBC) airplanes. El Al (ELA) announced in a filing to the Tel Aviv Stock Exchange, cited by press reports, that it has finalized its decision to purchase four 777-200ERs. Delivery is scheduled for 2012 (three) and 2013 (one) and the airplanes will seat 279 and be powered by (Trent 800)s, according to "Reuters," which reported that the order was signed. It can be converted to 777-300ERs. "The purchase of additional planes is intended to improve the airline's competitiveness, as foreign airlines increase their operations here, and as demand grows for El Al (ELA)'s long- and medium-haul flights," CEO, Haim Romano told "Bloomberg News."

March 2008: Record revenue helped El Al (ELA) return to profit in 2007 as the Israeli carrier posted +$31.7 million in net earnings compared to a -$33.9 million loss in 2006, when hostilities with Lebanon exacted a heavy toll on the bottom line. Turnover of approximately $1.93 billion was the highest in El Al (ELA)'s 60-year history, it said, and represented a +16% increase from the prior year. Operating result swung to a +$71.4 million profit from an $8.5 million deficit. "The ability of El Al to show profits is the result of the determined effort to reduce expenses while increasing revenue, particularly through the growth engines the airline defined for itself such as business passengers and increased tourism to Israel," President, Haim Romano said. "All this, together with optimizing the fleet and reorganizing routes, brought about this increase and resulted in record growth in revenues and higher load factors." Load factors rose to more than >85% LF last year, on a +2% climb in capacity, El Al (ELA) said. Its focus on long-haul and premium passengers was reflected by the addition of two 777s for use on routes to the USA, new premium lounges at New York (JFK) and Los Angeles, and "significant improvements" to its first (F) and business class (C) inflight products.

Fourth-quarter revenue grew +26% year-over-year to $524.3 million.

April 2008: Ramco said El Al (ELA) selected its Maintenance & Engineering plus Maintenance Repair & Overhaul (MRO) Suite featuring legacy system transformation, best-of-breed business process improvement and compliance as well as conformance for Regional Regulatory Aviation Administration reporting and control requirements.

May 2008: Record revenue was not enough to offset a difficult economic environment and a one-time provision related to potential liability for anticompetitive cargo activities, as El Al (ELA) sank to a -$49.9 million first-quarter loss that was more than three times the -$15.3 million lost in the year-ago period. Turnover rose +21% to a company record $471.5 million, but the $20 million provision, plus what President & CEO, Haim Romano called "the international crisis, the [+69%] increases in fuel costs and the erosion of the exchange rates," contributed to the result. Passenger revenue was up +22% year-over-year and operating expenses climbed +23% to $416.6 million. Operating loss fell to -$47.4 million from -$10.6 million in the first three months of 2007. Romano focused on the positive, claiming that the revenue increase was "an indication of El Al (ELA)'s ability to face the revolutionary challenges in the local and international aviation market." The company also incurred $9.1 million in registered financing expenses, resulting from its transfer to international accounting standards. Capacity and passenger numbers were up during the quarter, but load factor fell -1.7 points to 80.7% LF, El Al (ELA) said. Romano said the carrier is counting on further passenger growth, while CFO, Nissim Malki said its "strong cash situation indicates its stability and its ability to face the difficulties of this challenging period." It operates 36 airplanes to approximately 40 destinations.

El Al (ELA) said it is making a $20 million provision in its financial reporting for a "possible settlement" with the USA Dept of Justice (DOJ) regarding antitrust activities, related to cargo transport. Carriers throughout the world are contending with a wide-ranging multinational probe conducted by the (DOJ), (EU) antitrust authorities, and other governments into alleged price fixing on cargo carriage in 2000 through 2006. Several already have paid fines to the (DOJ) or agreed to do so, including British Airways (BAB) and Korean Air (KAL), and Qantas (QAN)'s former Americas VP Freight recently agreed to plead guilty to criminal charges in the USA and will serve eight months in prison. Air France (AFA)-(KLM) booked a €530 million/$835.6 million provision to cover potential cargo antitrust fines. El Al (ELA) said its provision was "an act of caution" and not a "statement of liability in any way."

El Al (ELA) placed an order valued at $850 million for four 777-200ERs plus two options. Boeing (TBC) noted that the airline has the right to convert the 777-200ERs to 777-300ERs. The Israeli carrier's fleet already includes six 777s.

July 2008: El Al (ELA) will close its thrice-weekly, Tel Aviv - Miami (MIA) service on September 1. It will codeshare on American Airlines (AAL) flights from (MIA) to New York (JFK), from which El Al (ELA) serves Tel Aviv.

August 2008: El Al (ELA) recorded a second-quarter net loss of -$11.2 million, reversed from a +$16.6 million profit in the year-ago period, as rising fuel costs mitigated record revenue. "During the second quarter, El Al (ELA) faced the challenge of the international crisis in aviation," President, Haim Romano said. "Fuel prices continued to soar, by about +80% [year-over-year] . . . During the quarter, the fuel component represented close to 40% of flight expenses and resulted in a significant growth in company expenditure." He added that the Israeli flag carrier faces "ever increasing completion . . . characterized by the increase in seating capacity offered by foreign carriers."

Operating revenue climbed +23% to $557 million, its highest-ever second-quarter total. It credited a +26% lift in passenger revenue "as well as other revenue increases such as duty-free sales and from providing maintenance services to outside companies." Operating loss was -$17.7 million, reversed from a +$27.1 million operating profit in the year-ago period.

September 2008: 500,000 Americans visited Israel last year. El Al (ELA) flies to New York (JFK), Newark, and Los Angeles - - it no longer flies to Chicago and Miami.

October 2008: 767-258ER (22973), sold to Spirit of Manila Airlines (SPL).

November 2008: El Al (ELA) reported a third-quarter net profit of +$30.4 million, down -25.3% from +$40.7 million in the year-ago period, a result President, Haim Romano called "remarkably gratifying in light of the difficult business situation and the signs of international economic recession." (ELA) said high fuel costs and "effects of exchange rates" owing to the dollar's weakness against the shekel during the quarter, were the primary drivers of the profit decrease. Romano said (ELA) "showed a drop in most expenditure categories" and continues to "work on achieving increased efficiency in day-to-day operations and on reducing costs," giving it the necessary "stability" to navigate what Chairman, Israel Borovich called "the international crisis besetting civil aviation."

Romano also noted that the Israeli government has promised to "finance 80% of the security expenses of Israeli airline companies," a decision (ELA) expects to be implemented "immediately" that will help keep operating costs under control.

Third-quarter revenue increased +7% to $607.3 million, while operating profit totaled +$50.4 million, down -18% from +$61.8 million in the year-ago quarter.

December 2008: In a major blow to USA-Israel aeropolitical relations, the (FAA) announced that it was downgrading Israel's aviation safety standard to Category 2 under the agency's International Aviation Safety Assessment (IASA) program. The decision, which will prevent El Al (ELA) from adding new services to the USA, follows up on a July assessment of Israel's Civil Aviation Authority (CAA). The (FAA) noted that the rating downgrade is not related to security issues and said Israeli authorities are "addressing the items identified, including working with the (FAA) on an aggressive action plan to correct all areas of concern so that their safety oversight system fully complies with standards and practices set by [ICAO]." Israel had maintained a Category 1 rating since November 1995. The (FAA) did not detail the reasons for the downgrade but said a Category 2 rating "may involve a country lacking laws or regulations necessary to oversee air carriers in accordance with international standards, or that its civil aviation authority does not meet international standards in one or more areas such as technical expertise, trained personnel, record keeping, or inspection procedures."

Other nations currently rated Category 2 are Bangladesh, Belize, Ivory Coast, Croatia, Demo Republic of Congo, Gambia, Ghana, Guyana, Haiti, Honduras, Indonesia, Kiribati, Montenegro, Nauru, Nicaragua, Paraguay, Philippines, Serbia, Swaziland, Ukraine, Uruguay and Zimbabwe.

The USA (FAA)'s decision to downgrade Israel's aviation safety standard to Category 2 marked a "black day for Israeli aviation," (ELA) COO & Acting CEO, Lior Yavor said, according to Israeli press reports. "We at (ELA) expect the Israeli government and the Knesset to take full responsibility for this serious decision, and to immediately and fully share in the costs accruing to Israeli airlines as a result, including the financing of security, which the government promised months ago. (ELA) expects the government to act with every means to restore Israel's Category 1 rating," he said. (ELA) and its compatriots are forbidden to establish new services to the USA or to add or change airplane types on currently served routes, and face more frequent inspections, while the nation is classified Category 2. The action also cancels code share agreements with USA carriers, Haaretz reported. (ELA) code shares with American Airlines (AAL).

(ELA) announced plans to launch Tel Aviv - Sao Paulo Guarulhos flights next spring aboard a 777.

January 2009: El Al (ELA) completed the cabin upgrade on the first of four 747-400s scheduled to receive new first (F), business (C) and economy (Y) class seats. Enhancements include a new digital in-flight entertainment (IFE) system, in-seat laptop power and a refreshed interior. The remaining airplanes will be completed in April.

(ELA) agreed to plead guilty to colluding on cargo shipping charges and will pay a $15.7 million criminal fine, the USA Department of Justice announced. (ELA) joined LAN Cargo (LCO) and subsidiary ABSA Cargo Airline (BSB), which also pleaded guilty last week and will pay a combined fine of $109 million. The three carriers "engaged in a conspiracy in the USA and elsewhere to eliminate competition by fixing the cargo rates charged to customers for international air shipments," the (DOJ) said. (ELA) was part of the conspiracy from approximately January 2003 until "at least" February 14, 2006. Nine months ago, it announced that it had set aside $20 million to handle a possible settlement with USA authorities.

The USA government now has levied fines of more than >$1 billion on 12 airlines in its price-fixing investigation, while three executives have been sentenced to spend a combined 20 months in prison.

February 2009: El Al (ELA) will launch thrice-weekly, Tel Aviv - Sao Paulo Guarulhos service on May 2 aboard a 777-200ER.

March 2009: El Al (ELA) posted a 2008 net loss of -$38.8 million, reversed from a +$44.8 million profit in 2007, citing fuel expenses.
(ELA) said high fuel prices in the first half of the year, followed by hedging charges in the second half when the price of oil dropped, led to a +45% year-over-year increase in fuel costs to $771.2 million. But President, Haim Romano said (ELA) "recorded a drop in most expense items aside from fuel" and has focused on "becoming more efficient."

Revenue grew +9% in 2008 to $2.1 billion, while expenses heightened +17% to $1.78 billion, producing operating income of +$325.2 million, down -22% from +$414.8 million in 2007. Fourth-quarter net loss was -$9.4 million, widened from -$5.3 million in the year-ago period, on a -11% drop in revenue to $465.3 million.

(ELA) will start six-times-weekly, Tel Aviv - London Luton 767 flights on May 3.

(ELA) announced the appointment of Amikan Cohen as Chairman. He most recently was President of telecommunications firm Partner Communications. He replaces interim Chairman, Amnon Lipkin-Shachak.

Pratt & Whitney Global Service Partners announced a one-year deal with El Al (ELA) for its EcoPower engine wash service on 777s and 747s at New York (JFK).

April 2009: El Al (ELA) is negotiating with the Montenegrin government for the purchase of 30% of Montenegro Airlines (MNO), which operates one EMB-195 and five F 100s and needs cash for fleet renewal. El Al (ELA) President, Haim Romano told reporters in Podgorica that talks will continue, while (MNO) Chairman, Zoran Djurisic said discussions also were taking place with Adria Airways (ADR) and that the sale is expected to be finalized before year end, "Reuters" reported. According to Vijesti, (ELA) is the most interested party and the government eventually intends to sell a majority of the carrier to whomever acquires the initial 30% stake. Djurisic told the paper that (MNO) suffered a -€701,000/-$923,925 operating loss in 2008 despite a +33% year-over-year increase in revenue to €61 million. Passenger numbers eclipsed 500,000. (ELA) also reportedly is interested in investing in airports operator Airports of Montenegro.

737-85P (35485, 4X-EKH), bought from Air Europa (ARE).

May 2009: El Al (ELA) reported a -$39.8 million first-quarter loss, narrowed -20.4% from the -$50 million deficit posted last year. Revenue was down -26% to $346.7 million as passenger numbers fell -13% year-over-year. "Strict management of expenses together with the drop in fuel prices after offsetting for hedging expenses led to a significant drop in the company's costs and better results," President, Haim Romano said in a statement cited by "Reuters."

Military conflict in the Gaza strip, depressed inbound tourism.

737-85P (35486, 4X-EKJ), bought from Air Europa (ARE).

June 2009: 737-85P (35487, 4X-EKL), bought from Air Europa (ARE).

August 2009: El Al Israel Airlines (ELA) reported a net loss of -$19.7 million for the second quarter, widened from a deficit of -$12.8 million in the year-ago period, as revenues plunged -28.4% to $399.4 million paced by a -54% decline in cargo revenues. "During the second quarter, (ELA) continued to confront the results of the world financial crisis . . . and the aftermath of 'Operation Cast Lead.' Both these factors resulted in a significant reduction in passenger movements in general, and in business (C) passenger movements in particular," CEO, Haim Romano stated. Notwithstanding the lowered results, he said (ELA)'s performance during the quarter "reflect[s] vigorous activity and careful controlled expenditure management that succeeded in minimizing potential losses."

Operating expenses excluding sales costs and management and general expenditures declined -27.5% to $353.1 million, buoyed by a -48.1% drop in fuel expenses between the periods. Operating loss deepened to -$24.5 million from -$19.8 million last year.

(ELA) ended the quarter with $157.3 million in cash and short-term deposits. It said it managed to boost its market share of international traffic at Tel Aviv's Ben Gurion Airport to 38% from 34.6%, despite the fact that foreign carriers increased their seat capacity by +2%.

(ELA) did not report six-month results but it lost -$39.8 million in the first quarter, bringing the half-year result to a loss of -$59.5 million on a pro forma basis, narrowed from -$62.8 million on a similar basis in 2008.

September 2009: El Al (ELA) CEO, Haim Romano will leave the carrier within the next 18 months, according to a statement from (ELA). No replacement was announced. (ELA) suffered a -$19.7 million loss in the second quarter.

Pratt & Whitney (P&W) announced a maintenance contract with El Al (ELA). The (ELA) deal is a $70 million, five-year Fleet Management Program extension covering (PW4060)s on its 767s and 747-400s, plus a five-year option.

October 2009: El Al (ELA) named former Israeli Air Force Major General Eliezer Shakedi as its new CEO, succeeding the resigning Haim Romano. "Globes" reported that the transition is expected to take two months.

February 2010: El Al (ELA) will launch thrice-daily, Tel Aviv - Eilat service in the spring. AtlasJet Airlines (ABE) has signed a cooperation agreement with El Al Israel Airlines (ELA) that will see Atlasjet (ABE) start services between Istanbul Ataturk and Tel Aviv Ben Gurion and a bilateral code share agreement between the two carriers also offering connections to El Al passengers to other destinations in Turkey and for Atlasjet (ABE) passengers via Tel Aviv to the El Al (ELA) network. (ELA) had pulled out of Turkey some years ago.

March 2010: El Al (ELA) reported a -$76.3 million net loss for 2009, widened from a -$41.9 million net loss in 2008, and new President & CEO, Elyezer Shkedy vowed to "ensure" this year is "a turning point" by focusing on cutting costs and developing new revenue sources.

VP Finance, Nissim Malki blamed "many factors" for the company's lackluster performance last year, including "the influence of the war in the southern border" in December 2008/January 2009, the global financial crisis and "a severe slowdown in cargo markets."

Shkedy, who took the airline's helm in January, said he contracted an unnamed "international consulting company with expertise in the aviation industry" to perform an "extensive analysis" of El Al (ELA). "Initial findings" led to "immediate action and [the carrier is] in the process of changing our commercial approach . . . with the intention to develop income sources [and] new collaborations to extract our abilities in passenger, cargo and tourism services," he said in a statement. He added that the company plans to focus on "reducing expenses" and "conducting ourselves in an effective commercial way, approaching new markets and developing potential growth engines."

Shkedy did not outline specifics of (ELA)'s new approach, which does not appear to be finalized. Chairman, Amikam Cohen said that "management is presently preparing a new strategic plan that will prepare the company to face the challenges of the near future . . . The plan will be presented soon."

Revenue in 2009 dropped -21% year-over-year to $1.67 billion. Fourth-quarter net loss was -$29 million, nearly triple the -$10.1 deficit recorded in the year-ago period.

April 2010: El Al (ELA) said that it is cancelling an order for four 777-200s placed two years ago. "Since the agreement with Boeing (TBC) was signed in 2008 and the global crisis occurred in world markets, there have been substantial changes in the aviation sector," (ELA) CEO, Eliezer Shkedi said, according to "Reuters."

747-412F (26563, 4X-ELF), ex-(9V-SFA), ex-Singapore Airlines (SIA).

June 2010: El Al (ELA) reported a first-quarter net loss of -$16.5 million, narrowed 59% from a -$39.8 million loss in the year-ago period, on a +21% rise in revenue to $420.5 million.

President & CEO, Elyezer Shkedy said the financial improvement is owing to "increased passenger traffic, strategic commercial planning, aggressively facing increased competition, reducing expenses, as well as significantly improving and expanding cargo activities." He added, "We will do everything possible to change the trend and turn losses into profits."

He reiterated that the company is developing a "new strategic plan" and said all aspects of its business are being examined. "We are reviewing our fleet and cooperation with other carriers, expanding cargo activities and new routes, examining our risk management policy, analyzing future growth engines and are seeking ways to reduce costs," he stated.

1 767-3Q8ER (27600, 4X-EAK), (ILF) leased, ex-(N271LF).

July 2010: El Al (ELA) will launch 17-times-weekly, Tel Aviv - Eilat service on August 1 using a 737-700. Eilat is a Red Sea resort city.

JetBlue (JBL) and El AL (ELA) announced an interline agreement, effective in November. Under terms of the accord, passengers will be able to purchase a single ticket for flights on both carriers for connecting service to Tel Aviv from most (JBL) cities via New York (JFK) and can utilize "through check-in."

August 2010: El Al (ELA) reported a second quarter net profit of +$14.8 million, reversing a -$19.7 million loss in the year-ago period.

President & CEO, Elyezer Shkedy said “creating a significant increase in revenues” and adopting a “very focused commercial policy” led to the improvement. He said the company “ended the quarter with a very positive cash flow from regular activities, to the tune of $82.9 million. This represents a solid base on which to advance and further strengthen the company.”

Second quarter revenue rose +25% year-over-year to $498.5 million, while operating expenses increased +14% to $400 million, producing an operating profit of +$25 million, reversing an operating loss of -$24.5 million in the year-ago period. Load factor reached 80.1% LF, up +3 points from the year-ago period.

"During the quarter, we reached a mutual agreement with the Boeing Company (TBC), whereby we cancelled an agreement that had been signed by the company in March 2008 for the purchase of four 777-200s,” said Shkedy. “In addition, we reached an agreement with (TBC) concerning the conditions under which El Al (ELA) will be able to make use of the advances that were paid to Boeing (TBC), for purchasing other airplanes in the future."

Shkedy noted that he met with JetBlue (JBL) CEO, David Barger in April and reached an “understanding to sign an interline agreement leading to close cooperation between the two airlines.

Israeli media reports stated that El Al (ELA) has been unable to reach a membership agreement with any of the three global alliances and is considering launching its own alliance. The alliance would include airlines that are not members of Oneworld (ONW), Star Alliance (SAL) or SkyTeam (STM) alliances. According to the reports, El Al (ELA) hopes to include three Eastern European airlines as initial partners and believes the alliance could eventually reach 20 members. The alliance would be known as "Western-Eastern." Aerosvit (UKA), Armavia (ARZ) and UTair (TYU) have signed a letter of intent (LOI) with El Al Israel Airlines (ELA) with the aim to launch a fourth worldwide alliance of smaller carriers tentatively called "WE" which stands for Western-Eastern. The alliance is scheduled to be operational by the end of 2011.

October 2010: EL Al Israel Airlines (ELA) is in discussions with potential partners about forming an alliance initially centered on Eastern Europe and the Middle East. (ELA) has been talking to Russian carrier UTAir (TYU), Ukraine's Aerosvit (UKA) and Donbassaaero (UDC), and Armavia (ARZ) of Armenia about cooperation deals that would start with code sharing, according to (ELA) Alliance Manager, Stanley Morais.

The alliance (preliminarly dubbed (WE) for "West-East" — is still in the “development stage,” says VP Commercial, Eli Cohen. But if (ELA) goes ahead with the plans, the group should later also include carriers in Asia and North America. (ELA) has recently shown interest in joining one of the three global alliances, but Morais says it was given the cold shoulder. He believes that the SkyTeam (STM), Oneworld (ONW) and Star (SAL) alliances are afraid their Arab customer base might choose the competition in the future if one of them accepted an Israeli airline. Cohen says (WE) could therefore be an “alliance of the miserables,” a group of carriers that is unwanted by the three global alliances for one reason or another. The focus on Eastern European carriers is based on the area's strong ties with Israel — more than >1 million Israelis stem from that part of Europe originally. Of the carriers in the potential group, only Aerosvit (UKA) operates long-haul — a single flight from Kiev to New York. Thus El Al (ELA) believes there is ample feed for its significant long-haul operation, which includes Toronto, New York, Los Angeles, Sao Paulo, Johannesburg, Mumbai, and Beijing. Today, (ELA) has almost no connecting traffic in Tel Aviv mainly because of the unstable political situation and the severe security measures upheld at the airport. Passengers have to show up for flights at least three hours in advance and are subject to rigorous inspections and interviews. Cohen hopes that some of those measures could be relaxed if passengers fly in on other airlines and connect without leaving the airport. “We want to make Tel Aviv into a hub, but we are facing high hurdles,” he says.

November 2010: El Al Israel Airlines (ELA) reported net income of +$42.5 million in its third-ended September 30, more than tripling its +$12.3 million profit in the year-ago period. President & CEO, Elyezer Shkedy attributed the strong quarter to “an improvement within all segments of (ELA) worldwide operations, including cargo activity, which experienced a growth of almost +35% compared to the same quarter last year.”

Revenue increased +13% to $561.2 million, while operating profit more than doubled to +$55.6 million, from +$23.8 million last year.

Shkedy also said the launch of (ELA)’s thrice-daily nonstop flights between Eilat and Ben Gurion International and its interline agreement with JetBlue Airlines (JBL) contributed to the growth. “Looking to the future,” he said, “the positive cash flow will provide a solid basis to further develop the airline.”

(ELA) produced load factors of 83.8% LF, up +2% from 85.1% LF in the year-ago period.

January 2011: Israel enjoyed a record-breaking year for tourism in 2010. An all-time high of 3.5 million people visited the country, +14% above the previous record year 2008. Economic recovery helped, but so did the arrival of Low Cost Carrier (LCC)s like easyJet (EZY). Tel Aviv broke a record too with passenger volumes rising +10% to nearly 12 million people. This year, officials hope to keep the hot streak alive by promoting celebrity visits, including an upcoming concert by the American band Bon Jovi. The country’s aviation sector does, however, face some regulatory concerns, not with security but with safety. The USA ((FAA) rates Israel’s safety standard as “category 2,” which limits the extent to which Israeli carriers can cooperate with their USA partners.

February 2011: El Al (ELA) has selected the 737-900ER and looks forward to finalizing a contract. (ELA) said it ordered 4 737-900ERs with an option for 2 more, in a deal valued at up to $320 million, "Reuters" reported. The 737-900s are intended to replace its 757s. (ELA) took delivery of its 1st 757 in 1987.

March 2011: El Al Israel Airlines (ELA) reported a 2010 net profit of +$57.1 million, reversing a -$76.3 million net loss in 2009, on a +19% rise in revenue to $1.97 billion.

VP Finance Nissim Malki said (ELA) demonstrated "an improvement in all components of the commercial product" in 2010. Revenue growth outpaced a +10% increase in expenses to $1.58 billion. Operating profit for 2010 was +$387.7 million, up +83% over +$211.6 million in operating income in 2009.

(ELA said it purchased a 747-400 during 2010 that arrived in February. It also last year added 3 leased airplanes comprising a 767-300, a 737-800 and a 747-400F. In February it completed a contract with Boeing to order 4 737-900ERs for delivery between 2013 and 2015. It also has 2 737-900 options.

4th-quarter net income was +$16.3 million, reversed from a -$29 million net loss in the 2009 December quarter, on a +19% lift in revenue to $492 million.

Israel’s Civil Aviation Authority is revoking the operating license of Sun D'Or International Airlines (ERO) as of April 1, owing to noncompliance with international aviation standards.

(ERO) is a wholly subsidiary of El Al Israel Airlines (ELA) and operates to mainly holiday destinations in Europe using 3 757-200s. It was established in 1977 as "El Al Charter Services" and re-branded as "Sun D'Or" in 1981. “Sun D'Or is currently operating without a full administrative and operational framework, as required of every other airline and is relying fully on the infrastructure of parent company El Al (ELA),” the (CAA) said. It added that it had informed the airline over a year ago that it failed to meet aviation standards and that it tried to “repair the faults, but the (CAA) remained unconvinced.” Apparently, the decision follows discussions with delegations from the European Commission (EC), which expressed “reservations about the company's operations” and considered placing operating restrictions on its flights.

Tel Aviv International airport posted a +11% rise in cargo traffic in 2010 compared to 2009, according to the Israel Civil Aviation Authority.

El Al Israel Airlines (ELA) completed a contract for 4 737-900ERs plus options. The order is valued at approximately $343.2 million at current list prices.

May 2011: El Al (ELA) reported a 1st-quarter net loss of -$42.9 million, widened from a -$16.5 million net deficit in the year-ago period, as a sharp rise in expenses outpaced a negligible revenue gain. In addition, (ELA) revealed it purchased a 747-400 during the quarter that will join its fleet in June.

President & (CEO) Elyezer Shkedy noted that the average market price for jet fuel "grew by about +39% compared to the parallel quarter last year. In addition, profits were negatively affected by the evaluation of the dollar exchange rates, and by the fact that the Passover travel season was in the 2nd quarter and not in the 1st as in the last year."

First-quarter operating expenses rose +11% to $403.4 million, while revenue increased just +0.5% to $425.2 million, producing a gross profit of +$21.8 million, down -63% from +$59.6 million in the year-ago period. "On the revenue side, there was a significant increase in competition, reflected in the +14% increase in capacity offered by foreign carriers at [Tel Aviv] Ben Gurion Airport," Shkedy said. (ELA) conceded that its market share was down about -5% year-over-year to 38.2% in the 1st quarter. The average load factor in the March quarter was 76.7% LF, down -4.5 points year-over-year.

(ELA) said its board this week approved a contract to purchase 4 737-900ERs. The 1st of these airplanes is slated for delivery at the end of 2013 with the final unit set to arrive in 2016. (CFO) Nissim Malki said the cost of the 747-400 was included in a $37 million investment in fixed assets made in the quarter. 2 leased airplanes, a 767-300ER and a 737-800, were added to the fleet in the March quarter. (ELA)'s operating fleet numbers 40 airplanes, 28 of which are owned.

August 2011: El Al Israel Airlines (ELA) reported a 2nd-quarter net loss of -$19.7 million, reversed from a +$14.8 million net profit in the prior-year period, as expenditures grew at nearly 3 times the rate of revenue.

Quarterly costs amounted to $470.2 million, up +17% year-over-year. (ELA) said, "Most of the increase stemmed from the costs of aviation fuel, which totaled $183.5 million [up +17.9%]. (ELA)'s expenditure on jet fuel increased largely as a result of the sharp increase (about 47%) in the average price of the fuel, compared to the parallel quarter last year: from 227.4 cents a gallon to 334.6 cents a gallon."

Second-quarter revenue lifted +6% to $530.5 million. (ELA) executives said (ELA) is in a relatively strong position, given the difficult operating environment. VP Finance Nissim Malki stated, "In spite of the challenging commercial conditions, (ELA) has systematically managed to present high liquidity, as expressed in the cash balance of >$174 million, a positive cash flow of $20 million in the quarter, and an increase in revenues of +6%."

(CEO) & President Elyezer Shkedy said (ELA) is "re-examining our route system." Flights to Sao Paulo will be dropped, freeing up 777s for more profitable flying, he said. "We are also planning to remove airplanes that are considered fuel-inefficient from service, and to add winglets to the wing tips of other airplanes."

February 2012: El Al Israel Airlines (ELA)has signed an agreement to sell and lease back two (CFM) engines, (56-7B), for around $13 to $14 million. (ELA) leased back those engines for seven years at a lease rate of 0.75% to 1.2% per month with an option to extend the contract by five years. As a result of the sale, El Al is (ELA) expected to earn $9 million in the 2012 first quarter.

March 2012: El Al Israel Airlines (ELA) incurred a -$49.4 million net loss for 2011, reversed from a +$57.1 million net profit in 2010, and said it will take a series of measures to restore profitability.

Full-year revenue grew +4% compared to 2010 to $2.04 billion. VP Finance, Nissim Malki said that 2011 "was yet another challenging year for world civil aviation in general and especially so for (ELA)."

(CEO) & President Elyezer Shkedy said he and the (ELA)'s Chairman Amikam Cohen, have waived 20% of their salaries. (ELA)'s Vice Presidents have taken a -10% salary reduction, while divisional Directors accepted a -7.5% to -10% pay cut.

As part of an effort to remove older airplanes from its fleet, (ELA) last year retired 2 767-200s and a 747-200F freighter. It also returned 2 leased 757s. (ELA) operated 37 airplanes at year end, 2 fewer than at the end of 2010.

"In addition to reducing expenditure, we continue to institute and develop additional revenue sources, so that in the mid- and long-term, the company will not be so dependent on fuel prices and on other external factors," Shkedy said.

(ELA)'s 4th-quarter net deficit was -$7.8 million, reversed from a +$16.3 million net profit in the 2010 December quarter. Full-year 2011 traffic declined -1% from 2010 to 17.25 billion (RPK)s on a +1% lift in capacity to 21.48 billion (ASK)s, producing a load factor of 80.3% LF, down -1.3 points.

Israel’s aviation market is set to open up to a much higher level of competition following the signing of an Israel - (EU) "open skies" agreement. The 8th and final round of negotiations between Israel and the (EU) took place this month, leading to an agreement which will gradually liberalize over the next 5 years air links between Israel and the 27 nations currently within the (EU).

Israel’s three main carriers have voiced concerns at the potential effects the new open skies agreement could have, with El Al (ELA) in particular, vulnerable to the prospects of increased competition. A rise in low-cost carrier (LCC) competition could also follow relaxed aviation regulations, further pressuring the Israeli carriers.

May 2012: El Al Israel Airlines (ELA) is considering setting up two separate airlines, one that would concentrate on long-haul services to Asia, North America and South Africa, and another carrier that would concentrate on short-haul services to Europe according to a report by Israeli newspaper "Haaretz." El Al (ELA) currently operates long-haul services from Tel Aviv Ben Gurion (TLV) to Bangkok Suvarnabhumi International (BKK), Beijing Capital (PEK), Hong Kong Chep Lap Kok International (HKG), Johannesburg Oliver Reginald Tambo International (JNB), Los Angeles International (LAX), Miami International (MIA), Mumbai Chhatrapati Shivaji International (BOM), New York John F. Kennedy International (JFK), Newark Liberty International (EWR) and Toronto Lester B. Pearson International (YYZ) airports.

July 2012: Ryanair (RYR) has publicly called on Israeli Transportation Minister, Yisrael Katz to sign the "open skies" treaty between the European Union (EU) and Israel. The new air services agreement would allow (EU) carriers to serve Israel from any point in the (EU) without limitations and vice versa allow Israeli carriers to serve any (EU) airport as often as desired. (RYR) plans to add Tel Aviv Ben Gurion (TLV) to its network but El Al Israel Airlines (ELA) is reportedly asking the government not to ratify the agreement as it expects this would heavily increase the number of flights to Israel operated by European carriers.

August 2012: El Al Israel Airlines (ELA) reported a second-quarter net loss of -$6.2 million, narrowed from a -$19.7 million net deficit in the year-ago period, on a -3% year-over-year decline in revenue to $516.8 million.

“Revenues from passengers dropped by about -1%, the result of the decrease in the number of passengers and the devaluation of the euro vis-à-vis the dollar,” (ELA) said. “Cargo revenues also dropped, by about -7.2%.”

President & (CEO) Elyezer Shkedy said El Al (ELA) continues to face “the challenges of a world economy in crisis” and “the realities of the complex geopolitical situation in the Middle East.”

He also reiterated (ELA)’s opposition to an "open skies" accord recently agreed to by Israel and the (EU). The "Knesset," Israel’s legislature, must still approve the agreement, which is supposed to be phased in over five years.

“El Al (ELA) has no objection to an appropriate and suitable agreement” on air services between the (EU) and Israel, Shkedy said. “All we ask that we be allowed to compete on an equal footing, so that the competition is fair and equal. At this time, fair and equitable conditions for competition for everyone do not exist.”

(ELA)’s second-quarter scheduled passenger traffic fell -1% year-over-year to 4.46 billion (RPK)s on a -2% drop in capacity to 5.41 billion (ASK)s, producing a load factor of 81.1% LF, down -1.2 points.

El Al Israel Airlines (ELA) has finalized an order for 2 additional 737-900ERs, adding to a previously announced order in March 2011, bringing its total order of the type to 6. The additional order is valued at $179.2 million at list prices.

According to Boeing (TBC), the 737-900ER replaces the larger, single-aisle 757, which ceased production in 2004.

September 2012: There is currently uncertainty surrounding the "open skies" agreement between Israel and the European Union (EU) as Israel’s airlines are putting pressure on the country’s politicians, not the least as El Al (ELA) continues to report losses. The plan is for a liberal agreement to be gradually introduced from April next year, provided it is approved by Israel’s parliament, the Knesset; however, in light of the ongoing political debate, this date may be delayed.

Tel Aviv’s Ben Gurion International Airport, which had a throughput of almost 13 million passengers last year, is dominant among Israel’s airports. Only three further airports in the country have scheduled commercial services; Eilat (1,400,067 passengers in 2011) and Ovda (136,791) by the Red Sea in the south of the country, and the small domestic airport Tel Aviv Sde Dov (655,772 passengers in 2010).

Although passenger numbers in Tel Aviv declined by 5% when the world economy took a slump in 2009, the airport has seen an average growth of almost 7% annually over the last decade. In other terms, passenger numbers at the airport are up by 78% between 2002 and 2011.

However, Israel’s flag carrier El Al is not the airline to lead the growth. In the same time period, the airline has grown its seat capacity out of Tel Aviv by 42%. However remarkable that growth may seem, this still means that the airline’s share of total seat capacity at Tel Aviv has slipped from 46% in 2002 to 35% in 2011.

In spite of an open skies agreement not yet being in place, some European low-cost airlines have made use of sufficiently liberal air services agreements and already entered the Israeli market. easyJet (EZY) and easyJet Switzerland currently serve Tel Aviv from London Luton, Basel and Geneva and a second route from the UK, from Manchester, is set to launch in November. Further low-cost airlines serving Tel Aviv are Norwegian (NWG) (from Stockholm Arlanda), Vueling (VUZ) (from Barcelona), Pegasus (PGS) (from Istanbul Sabiha Gökçen), SmartWings (from Prague and Bratislava), germanwings (from Cologne/Bonn) and TUIfly (HAP)/(HLX) (from Munich).

Several new airlines have begun serving Tel Aviv in 2012. niki (NKI) launched flights from Vienna in February, Olympic Air (OLY) from Athens in March and (SAS) from Copenhagen in June. However, both Olympic (OLY) and (SAS) had served Tel Aviv in the past.

Further new routes to Tel Aviv this year have complemented airlines’ existing services to the airport. Such new services include AirFrance (AFA)’s routes from Nice and Marseille (the latter launching on 3 September), with Transaero (TRX) from Moscow Vnukovo, Lufthansa (DLH) from Berlin Tegel and Aegean Airlines (CRM) from Thessaloniki. El Al (ELA) has also grown, launching flights to both Vilnius in Lithuania and Portugal’s capital Lisbon.

Because of Israel’s unique political and historical situation, the biggest country market out of Tel Aviv is something as unusual as a long-haul market. However, (O&D) traffic between the USA and Israel can be presumed to be even bigger than the non-stop capacity share suggests, as a number of European carriers catch considerable transfer traffic between the two countries.

The top 12 country markets out of Tel Aviv together make up just >75% of the total seat capacity at the airport. All remaining markets but one are to European countries, with the domestic Israeli market (ranked seventh) being the only exception.

Discrepancies between frequency and capacity shares reveal that, along with the United States, traffic to and from the United Kingdom is operated with larger airplanes than to other markets. Conversely, Ukrainian flights are operated with lower capacity.

A further low cost carrier (LCC) serving Tel Aviv is Jet2 (JT2) operating from Manchester (MAN). EasyJet (EZY) is set to become the second scheduled carrier operating this route.

November 2012: The (FAA) upgraded Israel’s aviation safety rating to Category 1, allowing Israeli carriers to add new flights and service to the United States and carry the code of USA carriers.

The upgraded rating comes following the (FAA)’s International Aviation Safety Assessment (IASA) review of Israel’s civil aviation authority in October. The Category 1 rating qualifies Israel as being in compliance with (ICAO) standards.

The (FAA) originally downgraded Israel to a Category 2 rating in 2008. Israel's civil aviation authority worked with the (FAA) on an action plan to bring its aviation safety oversight system to within full compliance with (ICAO) standards.

(ELA) posted a 3rd-quarter net profit of +$37.4 million, up +79% over net income of +$20.9 million earned in the prior-year period.

Revenue rose just +1% year-over-year to $605.8 million, but (ELA) lowered expenses -6% to $458 million, producing an operating profit of +$147.8 million, up +31%. President & (CEO) Elyezer Shkedy noted that (ELA) “continued to deal with the reality of a world economy in turmoil. In addition, we had to cope with the complex geopolitical conditions in the Middle East, which is particularly evident in these very days. Yet in spite of all this, we present financial results that reflect ongoing improved efficiency and tight control over expenses—resulting in the improved results.”

3rd-quarter traffic was flat year-over-year at 5.1 billion (RPK)s on a -2.5% reduction in capacity to 6.19 billion (ASK)s, producing a load factor of 84.5% LF, up +2.1 points.

As part of its effort to control expenses, (ELA) is simplifying its fleet by retiring 757s to narrow its airplane makeup to 4 types: 737s, 767s, 777s and 747s. (ELA)’s last 757 operated its final revenue flight this month. Since the late 1980s, (ELA) has operated 11 757s.

(ELA) expects to take delivery in late 2013 of the 1st 2 of 6 737-900s it has on order. According to its website, (ELA) currently operates 14 737NGs, 7 747-400s (including 1 freighter), 6 777-200s and 8 767s.

El Al (ELA) retired its last 757-200 (26053, 4X-EBU) on November 26. It had already previously retired 4X-EBV (26054, 4X-EBV) on November 6. The 757-200s are going to be converted into freighters for FedEx Express (FED).

February 2013: American Airlines (AAL) and El Al (ELA) plan to resume code sharing on flights to Tel Aviv from March 31. (AAL) will place its code on (ELA)'s flights between Tel Aviv and Barcelona, Frankfurt, London Heathrow, Los Angeles, Madrid, Milan, New York John F Kennedy, Newark, Paris Charles de Gaulle, Rome, and Zurich, according to a regulatory filing released on January 30.

The carriers had sought a blanket unlimited code share in December 2011 but were only allowed a limited code share due to Israel having a Category 2 safety rating from the USA Federal Aviation Administration (FAA). The country was upgraded to Category 1 on 1 November 2012.

(AAL) and (ELA) were granted code sharing authority in March 2008.

El Al Israel Airlines ((IATA) Code: LY, based at Tel Aviv Ben Gurion (TLV)) (ELA) could see a change to its ownership structure later this year as Israel's largest investmend fund Fimi has announced it is talks to build up a significant shareholding in the national carrier investing up to $60 million USD in El Al (ELA). Fimi Opportunity Funds plans to acquire 11.41% of (ELA) shares from the stock exchange and other shareholders including Knafaim Holdings in a 1st stage and to then increase its stake to 25.5% by purchasing new shares later this year if (ELA) reaches new labor agreements with its staff. As part of the deal currently being discussed, Fimi would also hold an option to acquire an additional 12.3 in (ELA) thereafter at a later stage.

April 2013: Israel’s (FIMI) fund has agreed to invest up to $75 million in El Al Airlines (ELA) in return for a 47% stake in the airline.

(ELA) will receive >$190 million in financing from the US Export-Import Bank (Ex-Im) to help support its 737-900ER acquisition. The financing was confirmed during USA President Obama’s visit to Israel, marking the latest transaction in El Al and Ex-Im’s relationship that stretches back to 1960. (ELA) (CFO) Nissim Malki welcomed the deal and confirmed the money would be used to support its 737-900ER purchase.

According to AerData, (ELA) has 8 737-900ERs on order. It initially ordered 4 of the type in March 2011 and then added 2 more in August 2012. The airplanes will be used for expansion and to replace some of (ELA)'s Boeing 757s. “This transaction will help ensure that (ELA) has a modern and efficient fleet that can meet the growing demands of their customer base,” Ex-Im Bank Chairman, Fred Hochberg said. Ex-Im said the deal will support 1,300 American jobs.

A 2-day strike by El Al Israel Airlines (ELA) workers in protest of a newly approved Israel - European Union (EU) "open skies" accord ended April 22 after the Israeli government agreed to cover nearly all of the airline’s security costs.

Boeing (TBC) and El Al Israel Airlines (ELA) announced (ELA)’s purchase of Boeing’s Maintenance Performance Toolbox to increase maintenance efficiency on the (ELA)’s Boeing (TBC) fleet, including Next-Generation 737s, 747-400s, 767s and 777-200ERs.

Boeing (TBC)’s Maintenance Performance Toolbox will allow (ELA) to improve its airplane dispatch reliability through the use of e-enabled technologies that run on the Toolbox system. (ELA) has selected the Authoring, Library, and Task modules. The Toolbox is accessed through the Boeing (TBC) customer internet portal, MyBoeingFleet.com. “Using Toolbox will enhance our maintenance activities by providing better plans and information to our technicians,” said Shmuel Kuzi, VP Maintenance & Engineering, (ELA). “Safety, reliability and efficiency are key responsibilities in serving our customers.”

The combination of the Authoring & Tasks modules allows (ELA) to customize manufacturer maintenance documents with airline-specific data, providing a database that is easy to navigate. The Tasks module supports the planning and management of specific maintenance jobs, enabling the creation of a maintenance program that exactly matches the specific fleet requirements. The Library module allows the airline to store and access current, consolidated manufacturer and customer maintenance data.

“This is a strong commitment by (ELA) to bring increased efficiency to its maintenance practices and provide the latest, most accurate information to its maintenance and engineering teams,” said Lynne Thompson, VP Customer Support for Boeing Commercial Aviation Services (BCA). “Toolbox has a strong track record of delivering this essential information faster and more reliably than current systems.”

(ELA) also will be able to access some Toolbox capabilities remotely, where conditions may not allow the maintenance team to access the online Toolbox, by hosting Toolbox data on airline-provided infrastructure.

(ELA) currently operates 17 Next-Generation 737s, 6 747-400 passenger models, 1 747-400F Freighter, 8 767s and 6 777-200ERs.

June 2013: The European Union (EU) has signed a comprehensive air transport agreement with Israel that will “gradually open up and integrate their respective markets, develop an aviation area with common rules, offer economic benefits for consumers and new opportunities for the industry,” the (EU) said.

August 2013: El Al Airlines (ELA) reported a 2nd-quarter net profit of +$3.7 million, reversed from a -$6.1 million loss in the year-ago period.

September 2013: El Al Israel Airlines (ELA) suspended its daytime service to Israel’s southern resort of Eilat, questioning the safety of new flight paths aimed at reducing exposure to potential attacks from militants in nearby Egypt. Israel has taken measures in recent months to ensure that air traffic into the Red Sea town, wedged between Jordan and Egypt, could not be targeted by Islamist militants in Egypt’s Sinai peninsula.

Those steps have included occasional rerouting of daytime flights so they do not skirt the Egyptian frontier: – patterns that aviation experts said forced planes to make steep turns.

El Al (ELA), which has three daily daytime flights to Eilat from Tel Aviv’s Ben-Gurion airport, said new landing and takeoff patterns for the resort town that were put in place did not meet international aviation safety standards. “The (CEO) of (ELA) expressed a deep concern to the Director of the Civil Aviation Authority about the implications of the new directive in terms of safety,” the company said, without further explaining why it believed the new flight paths were unsafe.

“El Al (ELA) expects the aviation authorities to urgently deal with the matter to allow the safe and regular operation of flights to Eilat,” it said.

Last month Israel shut down the Eilat airport for a couple of hours citing security concerns. It has also boosted rocket defences near its southern border to counter possible attacks from Sinai, where Egypt’s army has been cracking down on militant groups.

El Al (ELA)’s nighttime flights, whose routing has not been changed, are unaffected. Other Israeli airlines, which fly smaller airplanes to Eilat, announced no changes to their schedules.

October 2013: El Al Israel Airlines (ELA) has selected the wireless in-flight entertainment system BoardConnect from Lufthansa Systems for 10 737s and 2 767s, the companies said. Using their laptops, tablet PCs or smartphones, BoardConnect allows EL AL (ELA) passengers to access on-demand audio and video and other content.

“BoardConnect represents a very essential asset to our overall product enhancement strategy. With BoardConnect we will be able to offer our passengers a significantly advanced travel experience," said Elyezer Shkedy, (CEO) of (ELA). “(ELA) is one of the 1st airlines worldwide and the 1st airline that provides this service from Israel to Europe and vice versa, which offer sophisticated in-flight infotainment not only on wide-body airplanes, but on 737-class airplanes as well. This gives us a significant competitive advantage.”

BoardConnect does not require any complicated wiring for each seat. Instead, it works with a regular (WLAN) and depending on airplane size needs only 2 to 5 access points in the cabin to stream a broad variety of content to every passenger’s device. It can be used with iOS, Android, Windows 8 as well as conventional Windows or Apple devices, the company said.

(ELA) has taken delivery of its 1st of 6 Boeing 737-900ERs. It has invested >$320 million in its fleet renewal program. The 2nd airplane will arrive in December and 4 more in early 2016.

The new 737-900ER will be used to increase frequencies to existing destinations on short- and medium-haul routes between Israel and Europe. Each airplane is configured in 16C business-class seats and 156Y economy-class seats.

Later, El Al Israel Airlines (ELA) finalized an order for 2 additional 737-900ERs, bringing the total number of orders for the type to 8.

November 2013: El Al (ELA) commenced operations on the 2,500 km route from Tel Aviv (TLV) to Venice (VCE), making the N Italian city its 3rd destination in the country on November 5th. The weekly schedule to Venice, which complements (ELA)’s existing 10x-weekly to Rome Fiumicino and 9x-weekly to Milan Malpensa, will see its frequencies grow up to 3x-weekly by mid-July 2014. On November 6th, (Ela) resumed services on the route from Tel Aviv to Larnaca (LCA) in Cyprus, a service it last offered in March 2007. The 2x-weekly schedule from (ELA) faces competition from Cyprus Airways (CYP) (6x-weekly) and Arkia Israeli Airlines (ARK) (2x-).

December 2013: El Al Airlines (ELA) is launching a new budget carrier, called "UP" (UPA) that will initially serve five European destinations. - - SEE ATTACHED - - "ELA-2013-12 - UP 737-800."

UP (UPA) will launch March 30 next year, serving Berlin, Budapest, Kiev, Prague, and Larnaca. All destinations apart from Larnaca will be served with up to 11x-weekly flights. Larnaca will operate up to 6x-weekly. “We are launching a new and dynamic aviation brand—UP, which brings a declaration of renewal and addresses the changing needs of the aviation world,” El Al (ELA) President Elyezer Shkedy said. “I am convinced that this move will improve our competitive abilities, expand our customer reach and offer a better response to the various changing preferences, while offering flights at lower costs.”

The budget start-up will offer a 2-cabin product, with fares starting from $69 one way. Passengers traveling on an UP (UPA) basic fare will need to pay extra for airport check-in, baggage, seat allocations, inflight entertainment headphones and refreshments; UP Smart is a bundled, flexible product.

Local newspaper "Haaretz" reported UP (UPA) will operate a fleet of 737-800s, configured with 36PY economy plus and 144Y economy seats. According to its website, all-Boeing operator El Al (ELA)’s fleet comprises 2 737-700s, 15 737-800s, 1 737-900ER, 6 767-300ERs, 6 777-200ERs, 6 747-400s and 1 747-400F.

Local media are also widely reporting that Shkedy announced his resignation after 4 years as (CEO).

El Al Israel Airlines ((IATA) Code: LY, based at Tel Aviv Ben Gurion) (ELA) and other Israeli carriers will resume services to Turkey following a 6 year hiatus. Transportation Minister, Israel Katz said the Turks had accepted Israeli requirements that additional security measures be put in place before flights could resume. The "Jerusalem Post" said the announcement comes after the the Director General of Israel's Civil Aviation Authority, Giora Romm, and his Turkish counterpart, Bilal Eki, signed a revised bilateral air services agreement in Ankara in which provision was made for additional security measures. Flights are set to begin in Summer 2014. At present, Turkish Airlines (THY) and Pegasus Airlines (PGS) enjoy a duopoly on flights between the two countries.

El Al Israel Airlines (ELA) currently operates 38 airplanes, to 27 countries, 41 destinations, on 55 routes and 70 daily flights.

January 2014: El Al (ELA) and Ethiopian Airlines (ETH) will code share on Tel Aviv - Addis Ababa service.

(ELA) begins London summer service from April 1: 11x-weekly to London Heathrow with 777s, and 16x-weekly to Luton on 737s. Also added April 1, a sixth-weekly Tel Aviv - Hong Kong.

February 2014: El Al Israel Airlines (ELA) increases European flights for summer schedule March 30 - October 25 from Tel Aviv with Boeing 737-900ERs: 5x-daily to London, 4x-daily to Paris, 3x-daily to Moscow, 2x-daily to Amsterdam, Brussels, Munich, Frankfurt, Milan, Rome, Madrid, Barcelona, Zurich, and Bucharest.

El Al Israel Airlines (ELA) has painted the 1st 737-800 to go to UP (UPA) (based at Tel Aviv Ben Gurion) into the new low cost carrier (LCC) subsidiary's livery. 737-800 (30287, 4X-EKO) was recently in Ostrava for the repaint before returning to Tel Aviv Ben Gurion. (UPA) is set to launch operations on March 30 with flights to Berlin Tegel, Budapest, Kiev Borispol, Larnaca, and Prague. 737-800 (30465, 4X-EKM) will be the 2nd (UPA) airplane and both will operate with 36PY economy plus and 144Y economy seats.

May 2014: El Al (ELA) reported a 1st-quarter net loss of -$39.7 million, widened from a -$32.5 million loss in the year-ago period. (ELA) said the results were due to a combination of seasonality and fiercer competition. “The results of the 1st quarter of 2014 were affected by the seasonality in the aviation industry and the timing of the Passover holiday, which this year occurred in the 2nd quarter compared to last year, when it took place in the 1st quarter,” (ELA) (CEO) David Maimon said.

First-quarter revenue fell -3.6% to $415.4 million, while expenses increased +1.4% to $398.4 million, producing an operating profit of +$16.7 million, down -55% compared to the prior-year quarter.
“Operating expenses were affected by an increase in salaries, which resulted from the strengthening in the average rate of the shekel against the dollar. This increase was set off by the effect of a decline in prices of jet fuel and an increase in the state’s participation in security expenses to a rate of 97.5% of total expenses,” (ELA) said.

Maimon said labor relations remain a priority, adding the company is “taking steps” toward a new collective agreement.

1st-quarter traffic rose +2% to 3.8 billion (RPK)s on a +3% increase in capacity to 4.7 billion (ASK)s, producing a load factor of 80.7% LF, down one point year-over-year. (ELA)’s market share for the quarter stood at 33.3%, down from 34.7% in the 2013 1st quarter. “During the quarter, (ELA) had to deal with stronger competition, which was expressed by an increase of +8% in traffic at Ben Gurion Airport and an increase of +15% in the capacity of foreign companies.”

(ELA) launched new budget carrier, UP (UPA) in March to improve its competitive position. (UPA) now serves Berlin, Budapest, Larnaca, Kiev and Prague.

It also received the 3rd of 8 Boeing 737-900s in March; its next airplane from this order is due in July.

June 2014: EL AL Israel Airlines (ELA) has begun flying with its new wireless In-flight Entertainment (IFE) system, BoardConnect. The system is produced by Lufthansa Systems (LHS), and gives passengers access to (IFE) content on their laptops and smart phones or in-seat screens via an airplane Wi-Fi network.

(ELA) has added BoardConnect to 3 airplanes so far, a 737-900 and 2 767-300s. In the near future, EL AL (ELA) plans to install the BoardConnect system across its entire fleet of 737s and 767s.

With BoardConnect, Lufthansa Systems (LHS) focused on eliminating complicated wiring, and distributing the (IFE) content through as few access points as possible in the cabin with a regular on board Wireless Local Area Network (WLAN). (LHS) said this elimination of wiring also contributes to lower installation costs for airlines.

EL AL (ELA) (CEO) David Maimon believes entertainment is an "integral part of flying today" and calls the BoardConnect system a "state-of-the-art" upgrade to their airplanes.

July 2014: 737-958ER (41554, 4X-EHC) delivery.

August 2014: El Al Israel Airlines (ELA) posted a 1st-half net loss of -$23.4 million, narrowed from a net loss of -$28.8 million for the same period a year ago. The Israeli national carrier warned that the current hostilities in Gaza were likely to prove substantially detrimental to (ELA)’s next set of results.

1st-half revenues rose by approximately +3%, to $986.9 million.

Operating expenses in the 1st half were $864.7 million, up by around +3%, which (ELA) attributed to an increase in operations. Fuel costs were down -1.5% compared to the year-ago half.

2nd-quarter net profits climbed to +$16.3 million, a significant rise on the $3.7 million posted in the year-ago quarter. Revenues were $571.5 million for the quarter, up +8% year-over-year. Internet sales showed a marked rise of around 20% compared to the 2013 second quarter. Load factor was up +2% at 84.4% LF. “The results of the second quarter of 2014 are a reflection of the continued adaption of operations to the business environment,” (CEO) David Maimon said. “In 2014, the Passover holiday was in the second quarter. El Al (ELA) continued to significantly increase its operations, the supply of seats being increased by +13% compared to the equivalent quarter in the previous year, with only a slight increase in operating expenses of about +4%.”

He noted that in the 2nd quarter (ELA) set up a new low-cost carrier (LCC), "UP" (UPA), which began services to Berlin, Budapest, Larnaca, Kiev, and Prague.

Maimon said the effects of what Israel refers to as "Operation Protective Edge" (aimed at countering rockets fired into Israel from the Palestinian territory of Gaza) had led to cancellations and a drop in bookings. (ELA) estimated that “revenues in the 3rd quarter of 2014 are expected to be reduced by about -$55 to -$65 million, which will have a considerable detriment affect on business in the third quarter.

“As a result of the negative effect of the Operation Protective Edge on the local aviation industry, (ELA), together with other Israeli airlines approached the relevant government ministries requesting to receive compensation from the state.”

October 2014: JetBlue Airways (JBL) and El Al Israel Airlines (ELA) plan to begin code sharing pending government approval. (ELA) plans to place its LY code on select (JBL) flights out of New York (JFK) and Newark. El Al (ELA) offers 22x-weekly flights from Tel Aviv to (JFK) and Newark, connecting between Israel and 35 JetBlue (JBL) cities, including Boston, Chicago (ORD), Fort Lauderdale, Houston Hobby, Las Vegas, Orlando, San Francisco, San Juan, Washington (IAD), and West Palm Beach.

November 2014: El Al Israel Airways (ELA) and JetBlue Airways (JBL) have signed a code sharing agreement. Connections and services between 38 (JBL) cities and (ELA) flights through (JFK) and Newark will be offered. (ELA) flies 32x-weekly flights between the USA and Israel.

December 2014: El Al Israel Airlines (ELA) posted 3rd-quarter net profit of +$10.1 million compared to +$57.9 million in the year-ago quarter, due to disruptions caused by Israel’s military operations against Palestinian forces in Gaza over the summer.

Third-quarter revenues dipped to $601.2 million compared to $643.3 million dollars, down -7%. Load factors dropped to 82.1% LF compared to 84.8% LF for the year-ago period. “The results of the third quarter reflect the effect of the ‘Operation Protective Edge,’ which caused significant harm to revenues and as a result (ELA) requested government assistance,” (ELA) (CEO) David Maimon said. “This is the first time since the Second Lebanon War in 2006 in which (ELA) presents a significant decline in third-quarter profits. In addition, the quarter was characterized by an erosion in prices, which resulted in a decline in revenues per passenger.”

However, revenues from cargo increased +4.5%, mainly as a result of an increase in the number of ton-km flown, after offsetting a decline in yield.

(ELA)’s operating expenses increased +2% to $493 million compared to the equivalent quarter in 2013. This increase was a result mainly of the increase in expenses for jet fuel, an increase in levies and air transition fees, and after setting off the decline in salary and security expenses.

Expenses for fuel increased +5.2%. The company added that, while the price of fuel declined in the third quarter compared to the equivalent quarter in 2013, (ELA)’s hedging operations resulted in an increase in the effective price.

Results for the 1st 9 months of the year showed revenues of $1.58 billion, compared to $1.60 billion during the equivalent period in the previous year. This was due mainly to the decline in yield as a result of the increasing competition and after setting off the increase in the number of passengers flown.

Net loss over the first nine months was -$13.2 million compared to a profit of +$29.1 million during the equivalent period in 2013.

Operating expenses during the first nine months amounted to $1.35 billion compared to $1.32 billion, a +2.5% increase.

Security expenses recorded a “significant decline” of -$14.3 million following greater state support for those activities.

January 2015: Swiss-(AS) Maintenance Repair & Overhaul (MRO) software (AMOS) was adopted by 11 new customers in 2014, including Philippine Airlines (PAL), El Al Israel Airlines (ELA), and Aerolíneas Argentinas (ARG). Swiss-(AS) expanded +20% to >140 employees in 2014, and revenue grew +22%. It is developing a touch-optimized mobile package, (AMOS) mobile, which will launch modules for line maintenance in 2015.

March 2015: El Al (ELA), the Israeli flag-carrier, received a Next-Generation 737-900ER, its 50th airplane.

April 2015: Conflict between Israelis and Palestinians contributed to a sharp deterioration in El Al (ELA)’s 2014 results, as the military action brought about a slump in tourist traffic to Israel.

The Israeli national airline recorded a net loss of -$28 million in 2014, compared to a profit of +$26.7 million the previous year. The result was achieved on revenue down -1% year-over-year (YOY) at $2.08 billion. Operating expenses rose +2.2% (YOY) to $1.79 billion. Load factor was 82.5% LF, compared to 82.9% LF in 2013.

"The results of 2014 reflect the effects of the ‘Protective Edge’ operation, which caused a significant decline in tourism, and harm to El Al (ELA)’s profits,” (CEO) David Maimon said. The 2nd half of 2014 had seen a -20% drop in inbound tourism to Israel as a result of the conflict between the Israeli armed forces and the Palestinians.

“In addition, the increasing competition at Ben Gurion Airport resulted in an erosion in flight prices, and as a result, together with the increase in operations and increase in market share, there was also an increase in expenses, which harmed profit margins,” Maimon said.

On the plus side, Maimon said, 2014 had seen the successful launch of El Al (ELA)’s low-cost subsidiary, UP and (ELA)’s new Boeing 737-900ERs had started to arrive. Among other developments, it had been the launch of a code share with carrier JetBlue (JBL), to give (ELA) passengers access to a range of USA destinations.

(CFO) Dganit Palti added that the company had also been affected by its fuel hedging policy in the face of rapidly-declining oil prices and an adverse exchange rate between the dollar and the shekel. Together, these factors accounted for a -$52 million negative shift in the annual accounts.

(ELA)’s passenger revenues declined by -0.9% (YOY); revenue from cargo declined -1.7% (YOY).

The company’s 4th Quarter results, announced at the same time as the annual figures, recorded 4th-quarter revenue of $493 million, a decline of -1.2% compared to 2013, while net losses amounted to $14.8 million, widened from $3.7 million during the year-ago period.

June 2015: 767-35DER (27902, EC-LZO), ex-(EI-FDI), Privilege Style (PVG) leased.

August 2015: News Item A-1: El Al Israeli Airlines (ELA) recorded a 1st-half net profit of +$1.3 million, reversed from a loss of -$23.4 million for the corresponding period last year.

1st-half revenues dropped -5.7% to $930 million year-over-year. The Israeli flag carrier said the decline was due to several factors, including adverse exchange rates against the dollar and a -14% decrease in inbound tourism, which led to a -6.5% reduction in passenger revenue. Cargo revenue rose +1%.

Half-year costs dropped -10.2% to $775 million, largely due to lower fuel prices and the erosion of salaries resulting from the weakened Israeli shekel against the dollar.

“We conclude the 1st half of 2015 and the second quarter of the year with improvement in various operational and financial parameters and growth in the net profit of the company,” (ELA) (CFO) Dganit Palti said.

“The company recorded a decrease in revenues resulting from a reduction in the number of passengers, due to a drop in incoming tourism and price erosion, which resulted from the decline in the oil prices, the number of tourists and from currencies devaluations in relation to the dollar.

“Alongside this, the company recorded a decrease of >$57 million in operational costs in the 2nd quarter, despite a +2% increase in the company's operations,” he said.

El Al (ELA) (CEO) David Maimon said the company’s planned acquisition of Boeing 787-8s and 787-9s is “the largest airplane acquisition program in the history of (ELA).”

The deal “is expected to include the purchase and lease of 15 airplanes over the next 5 years. This move is expected to constitute a significant step forward in the optimization of network routes, passenger service and flight experience,” Maimon said.

Over the next five years, the 787s will replace El Al’s 747-400 and 767 fleets and will take over medium- and long-haul destinations such as New York, Boston, Toronto, Bangkok, Beijing, and Mumbai.

News Item A-2: El Al Israel Airlines ((IATA) Code: LY, based at Tel Aviv Ben Gurion) (ELA) said it has settled on the 787 from Boeing (TBC) to replace its wide body fleet.

(ELA) has signed an agreement with Boeing (TBC) to purchase and lease up to 15 787 Dreamliners, with purchase rights for 13 additional airplanes. The airplanes are part of (ELA)'s fleet renewal plan.

(ELA) said it would replace its 7 767-300ERs with 787-8s and its 6 747-400s with 787-9s.

Deliveries are scheduled to run from 2017 through to 2020.

(ELA) currently operates 43 airplanes, and serves countries, to 45 destinations, on 58 routes and 119 daily flights.

October 2015: News Item A-1: El Al Israel Airlines (ELA) has signed a firm order for 3 Boeing 787s. (ELA) is finalizing a contract for another 6 direct from the manufacturer and will lease a further 6 of the type.

Announcing the deal on October 29, Boeing (TBC) valued the 9 directly sourced airplanes at >$2.2 billion at list prices. The airplanes will be used to replace and grow El Al (ELA)'s long-haul fleet. “Our agreement to purchase 787 Dreamliners is a significant step forward in the optimization of our route network, enhancing passenger service and the overall flight experience,” El Al President & (CEO) David Maimon said.

(ELA) has entered into exclusive negotiations with Roll-Royce (RRC) to power the 15 787s with (Trent 1000) engines, supported by a TotalCare maintenance agreement.

(ELA), which is an all-Boeing operator, has a fleet of 22 737s, 7 747s, 7 767s and 6 777s.

News Item A-2: Pratt & Whitney (PRW) has signed a 5-year maintenance services agreement with El Al Israel (ELA) covering 17 (PW4000)s.

November 2015: El Al Israel Airlines (ELA) recorded a significant improvement in its 3rd-quarter figures compared to a year ago, as traffic recovered from the sharp dip caused by military operations in the region.

Net profit for the quarter rose to approximately +$93 million, compared to +$10.1 million a year ago, on revenues up +7.7% at +$647.3 million.

(ELA), the Israeli flag carrier attributed the jump in profits to a combination of “significant growth” in passenger numbers, up +27% at 5.4 million, together with sharply reduced costs, including lower oil prices.

Passenger numbers grew both outbound and inbound, with the number of Israelis heading abroad rising +28% and the number of tourists arriving in Israel up +36%. The latter figure reflects the improvement in tourism traffic following the end of 2014’s air and ground conflict around Gaza, when Palestinian rocket fire into Israel led to large-scale Israeli military retaliation. The conflict caused “a material adverse effect on the traffic at Ben Gurion Airport [in Tel Aviv] throughout said period,” (ELA) noted.

3rd-quarter operational expenses were $438.5 million, down -12% compared to the year-ago figure of $498.5 million, mainly due to the drop in the price of jet fuel. However, this drop was partially offset by a +5.1% increase in flight hours. Fuel expenses declined from 34.1% of turnover in (3Q) 2014 to 21.1% in the latest quarter.

“The excellent financial results and the company’s financial robustness (expressed [among other things] by high cash flow and deposit balances totaling approximately $223 [million] and a particularly low debt/EBITDA ratio) support our long-term airplane acquisition program, El Al (ELA) (CFO) Dganit Palti said. Those acquisitions included the recent contract for Boeing 787s, which (ELA) said would position it as “a leading innovative player.”

(ELA)’s nine-month revenue figures were almost static, down -0.7% at $1.58 billion year-over-year. However, the 9-month net profit figure rose to +$94.3 million compared to a loss of -$13.2 million a year ago.

(ELA) said its figures had been affected positively by increasing passenger numbers, but negatively by a drop in ticket prices, increased competition and exchange rate fluctuations.

December 2015: El Al Israel Airlines (ELA) will take a pair of Boeing 787-9s from Air Lease Corporation (ALE) as a replacement for some of its older 747s.

Announcing the deal, (ALE) said the 2 airplanes (sourced from its existing order book) will be placed on long-term lease with El Al. "These new Boeing 787-9 Dreamliner airplanes will replace older Boeing 747-400s in El Al’s fleet and will be the 1st 2 787s for (ELA),” the USA lessor said.

The airplanes are scheduled for delivery in the third quarter and early fourth quarter of 2017.

El Al (ELA) is an all-Boeing (TBC) operator, which serves 45 domestic and international destinations from its main base in Ben Gurion International Airport.

January 2016: EL AL Israel Airlines (ELA) appointed Michal Ben Yacov as the West Coast Regional Manager covering California, Arizona, Alaska, Colorado, New Mexico, Nevada, Oregon, Idaho, Montana, Washington, Wyoming, and Utah. Based in Los Angeles, Ben Yacov works with the travel industry and local community to ensure the continued success of the route, which includes up to nonstop 5x-weekly flights.

March 2016: News Item A-1: El Al Israel Airlines (ELA) posted a +$106.5 million net profit for 2015, reversing a 2014 net loss of -$28 million as passenger numbers increased +7.6% over the year.

In 2014, (ELA) saw its profits tumble by >$55 million year-over-year (YOY) following disruptions caused by Israel’s military operations against Palestinian forces in Gaza that summer. Inbound tourism to the region dropped -20% in the latter half of 2014.

During 2015, (ELA), the Israeli flag carrier transported 4.9 million passengers, up from 4.6 million passengers in 2014. Traffic grew +4% (YOY) to 19.74 billion (RPK)s and capacity increased +3.7% (YOY) to 23.88 billion (ASK)s, producing a passenger load factor of 82.6% LF, up +0.1 point (YOY). (ELA)’s cargo traffic for the year was 488.7 million (RTK)s, up +0.9% (YOY).

For the full-year, the number of Israelis heading abroad rose +15.2% (YOY) to 5.4 million; the number of tourists arriving in Israel during the year was down -0.8% (YOY) to 2.5 million.

“Thanks to a dramatic improvement of operational efficiency due to the drop in fuel prices, the entry of new aircraft [and] modular pricing for (UP)-branded flights which increased demand, we present[ed] record results,” El Al (ELA) (CEO) David Maimon said. (UP) is the low-cost carrier (LCC) operated by (ELA).

Full-year revenue for the airline was $2.05 billion, down -1.3% (YOY); operational expenses fell -11.6% (YOY) to $1.59 billion. (ELA)’s operating profit for the year was +$461.2 million, a +65.5% increase (YOY).

El Al (ELA) attributed the drop in revenue as a result of opposing trends. “On the one hand, revenues were favorably affected [by the] growth in the number of passengers at [Tel Aviv’s] Ben Gurion Airport,” the company said. “On the other hand, the company’s revenues were adversely affected as a result of the drop in flight prices mostly due to the increased competition and the impact of the drop in fuel prices.”

4th-quarter revenue for the airline was $476.3 million, down -3.4% (YOY); operational expenses fell -14.1% (YOY) to $379.1 million. 4th-quarter operating profits came to +$97.2 million, a +86.7% (YOY) increase. (ELA)'s 4th-quarter net profit was +$12.2 million, reversing its -$14.8 million net loss in (4Q) 2014.

Following the year’s turnaround in profits, (ELA) management granted a company-wide bonus of “>$9 million, in addition to the wage increase and bonuses to employees paid under the wage agreement of June 2015,” the company said. As of December 31, 2015, (ELA) employed 3,779 permanent and 2,330 temporary employees.

(ELA)'s owned fleet of Boeing airplanes as of the end of the year comprised 6 747-400s, 8 737-900ERs, 1 737-700, 6 737-800s, 6 777-200ERs and 2 737-300ERs, with an average age of 12 years. (ELA)’s leased airplanes as of December 31, 2015, comprised 9 737-800s and 5 737-300ERs, costing El Al (ELA) approximately $64.2 million in lease fees for the year.

On October 29, 2015, (ELA) signed with Boeing (TBC) for the largest airplane acquisition in (ELA)’s history, purchasing 9 787-8 and 787-9 Dreamliners with options for 13 additional Dreamliner airplanes, valued at approximately $1.25 billion. Additionally El Al (ELA) arranged to lease another 6 787 Dreamliners from several lessors, including Air Lease Corporation (ALE). El Al (ELA) intends to utilize the 787 Dreamliners to replace its 747-400 fleet on its New York (JFK)/Newark - Israel routes, as well as replacing its 767s on its Boston - Israel and Toronto - Israel routes. The fleet renewal is to begin in the third quarter of 2017, (ELA) said.

News Item A-2: Rolls-Royce (RRC) will supply maintenance and support for El Al Israel Airlines (ELA)’s (Trent 1000) engines that have just been selected for (ELA)’s new Boeing 787s. (ELA) has ordered 15 787 Dreamliners, with options for an additional 13.

April 2015: El Al Israel Airlines (ELA) has wet-leased a 747-400F from Atlas Air (TLS) for use on its Tel Aviv Ben Gurion to New York (JFK) via Liège cargo flights.

August 2016: EL AL Israel Airlines (ELA) appointed Yoram Elgrabli as Managing Director of North and Central America.

November 2016: El Al Israel Airlines (ELA) reported a 3rd-quarter 2016 net profit of +$70 million, down -24.7% from +$93 million in the year-ago quarter. (ELA) said the result was mainly attributable to an increase in operating expenses over the quarter, which were up +7.3% to $470 million, compared to $438 million in (3Q) 2015.

(ELA)’s 3rd-quarter operating revenue was $644 million, down -0.5% compared to $647 million revenue in (3Q) 2016. (ELA)’s gross profit for the quarter was +$173 million, down -117.2% from +$209 million a year ago.

(ELA), the Israeli flag carrier transported 1.8 million passengers in the 3rd quarter, up +13% year-over-year (YOY). Traffic was up +7.9% to 6.4 billion (RPK)s and capacity increased +7.5% to 7.3 billion (ASK)s, producing a passenger load factor of 87.3% LF for the quarter, up +0.3 point (YOY). El Al (ELA)’s cargo traffic for the quarter was 118.4 million (RTK)s, down -8.3%.

(ELA) said the company’s operating “revenues were affected by 2 opposing trends.” While both passenger traffic and capacity increased during the quarter, (ELA) cut ticket prices to contend with “intensified competition and the impact of the drop in fuel prices.”

(ELA)’s operating expenses during the quarter, even after a saving of $23 million in fuel costs, increased by +$32 million, attributable in part to “an increase in operations, disruptions in manning flights (which began in October 2015 and continue until the publication of [this] report) and the need to find alternative solutions in connection therewith,” the company said.

“The 3rd quarter was affected by [our] pilots (FC)'s sanctions, which have been continuing for many months, causing disruptions in El Al (ELA)'s operations,” (ELA) (CEO) David Maimon said. “These disruptions are expressed by delays and cancellations of departing flights.”

(ELA) said it was compelled to address the disruptions by leasing outside aircraft to accommodate passengers. Pilots (FC) have reportedly refused to show up for flights on numerous occasions in recent weeks as the labor dispute has escalated.

March 2017: El Al Israel Airlines (ELA) reported +$81 million in full-year net profit for 2016, down -24.3% from $107 million net income in 2015.

“(ELA) 2016 results were affected by the pilots (FC)’ crisis that reached its peak in the 4th quarter of the year,” El Al (CEO) David Maimon said. “The main impact was on operating expense items.”

(ELA)’s labor dispute with its pilots (FC) became acute in October 2015, and continued intermittently through 2016, (ELA) said. On these occasions, pilots (FC) reportedly refused to show up for flights, forcing (ELA) to lease outside aircraft and crew to accommodate passengers.

(ELA)’s 2016 operating expenses, which included a year-over-year (YOY) savings of $95 million in jet-fuel expenses, nonetheless had a gross increase of $145 million, as the airline responded to the pilot (FC and crew (CA) shortages. El Al (ELA) indicated the expenses went to “an increase in operations and wages and [an] increase in lease expenses, primarily due to disruptions in manning flights and the need to find alternative solutions mainly wet lease of aircraft and crew.”

“The company’s operating expenses increased significantly [as a result of] the +5% increase in flight hours and mainly [because of] disruptions in flights resulting from a crisis with the pilots (FC),” Chief Financial Officer (CFO) Dganit Palti said.

El Al (ELA)’s full-year revenue for 2016 was $2 billion, down -0.8% from $2.1 billion in 2015, as revenue from passenger flights increased +0.1% and cargo revenue decreased -11.4%. (ELA)’s passenger revenue was “affected by 2 opposing trends”: fare decreases attributable to intensified completion, and lower fuel prices versus a significant increase in the number of passengers carried as (ELA) ramped up operations during the year (which was nonetheless offset by operational difficulties associated with the pilot (FC) action).

(ELA)’s 2016 4th-quarter revenue was down -3.3% YOY to $460.8 million as traffic fell during the quarter (at press time, El Al (ELA) had not posted operational details for the year). (ELA) reported a -$2.4 million net loss for the 4th quarter, compared to +$12.2 million in net profit during the year-ago quarter.

(ELA) took delivery of the last of its 8 new Boeing 737-900ERs in March 2016. The 1st of 3 787-9s on order by (ELA) will arrive at the end of August. “Despite the damage to [our] activity this year, the (EBITDA) [earnings before interest, tax, depreciation and amortization] amounted to $287 million, [El Al] generated a cash flow from operating activities >$240 million, and cash and deposit balances amounted to $212 million,” Palti said. “(ELA)’s financial position enables us to move forward in the face of the challenge of the new fleet of airplane program, which will enable (ELA)’s future development.”

January 2017: 767-3YOER (24953, 4X-EAP) last revenue flight.

May 2017: El Al Israel Airlines (ELA) made a 1st-quarter net loss of -$30 million, widened from a net loss of $21 million for the year-ago quarter.

(ELA), the Israeli flag carrier said the deficit increase was mainly because of a rise in payroll costs—resulting mostly from the timing of 1-time bonuses for 2016 and the shekel appreciation—together with the rising cost of fuel.

Operating revenue for the quarter was $418 million, up +5.3% from the year previously. Operating expenses increased 4% year-over-year (YOY) to $377 million.

Capacity, measured in (ASK)s, increased +1.3% (YOY) while RPKs were up +5.1% (YOY). Load factor for the period was 83.7% LF, up +4 points (YOY) (unusually high, particularly in the traditionally weak 1st quarter), (ELA) said. Yield was up 0.5% (YOY).

“The company presented impressive operating results for the 1st quarter, better than those of the 1st quarter of last year, and recorded a growth of about +5.3% in revenues, despite intensifying competition and expansion of [Tel Aviv] Ben Gurion Airport's Open Sky policy,” El Al (ELA) (CEO) David Maimon said. Mamion noted (ELA) was making final preparations for receiving the 1st of its planned fleet of Boeing 787s, which is scheduled to arrive in August. “These airplanes will enhance the company’s ability to continue to successfully cope with market conditions in the face of intensifying competition.” During the (1Q), (ELA) began making advance payments for the airplanes. These totaled $54 million, part of which was financed by bank loans.

June 2017: News Item A-1: "El Al Rated Heathrow's Dirtiest, Noisiest Airline" by "The Times of Israel" June 15, 2017.

A new list published by London's Heathrow Airport rates El Al (ELA), Israel's national carrier as the dirtiest and noisiest of all the carriers servicing the the world's 3rd-largest airport.

According to the survey, (ELA) came in last place out of 50 airlines, receiving a final score of 362 out of 1,000.

In 1st place was British Airways (BAB) short haul, with a score of 953. ((BAB) long haul didn't do quite as well, coming in 19th place with 821.)

El Al (ELA) received unsatisfactory scores in 5 of the 7 categories: noise quota per seat, noise certification, nitrogen oxide emissions, efficient landing approaches, and arrival times.

The 1st 3 are primarily dependent on the aircraft and long-term fleet planning, but the last 2 categories are measures of the ability of the pilots (FC) and crew to land in the most efficient, quietest manner and to avoid landings between 11:30 pm and 4:30 am.

The "Fly Quiet and Clean League" ratings aim to shame airlines into adopting cleaner, more efficient practices.

Rounding out the bottom 5, but well ahead of El Al (ELA), were Kuwait Airways (KUW) (484), Middle East Airlines (MEA) (556), Pakistan International Airlines (PIA) (565) and Omar Air (572).

The Fly Quiet survey has been published quarterly since mid-2013 and Israel has consistently been in last place, except for 3 quarterly periods when it rose to 49th place.

July 2017: El Al Israel Airlines (LY, Baed at Tel Aviv Ben Gurion) (ELA) has announced that it along with its Sun d'Or International Airlines (2U, Tel Aviv Ben Gurion) unit have entered into an agreement with (IDB) Development, (IDB) Tourism, and Israir (6H, Tel Aviv Sde Dov) to acquire the entire issued and paid-up share capital of Israir.

According to the acquisition agreement, (IDB) will sell all of its shares in Israir to Sun d'Or for USD24 million in cash and a 25% stake in the merged Sun d'Or entity. In turn, Israir is expected to take over Sun d'Or's operations while allocating 75% of its shares to El Al. After the merger, Israir will concentrate on low-cost, domestic flights and El Al (ELA) vacation packages.

The transaction's value excludes Israir's owned fleet of 2 A320-200s and 2 ATR 72-500s which will be sold and leased back from an unspecified 3rd party. Failing that, El Al (ELA) will have to buy the aircraft for at least USD70 million.

Additionally, (ELA) and (IDB) will, according to their relative shareholdings in Sun d'Or, provide guarantees of up to an aggregate amount of USD33 million for the working capital of Sun D'Or and Israir, and will also secure Israir's liabilities arising from the agreement signed between Israir and its pilots (FC) and the New Histadrut Labor Federation.

El Al (ELA) and Sun d'Or believe that the acquisition of Israir will enable them to expand and diversify their sources of income by, among other means, expanding its activities in the areas of outbound and inbound tourism.

As it stands, El Al (ELA) expects a finalized deal to be signed in the coming days, with closing planned for December 31. The final deal itself is still subject to regulatory and antitrust approvals as well as the finalization of a new collective labour agreement with Israir flight crews (FC).

August 2017: News Item A-1: 2nd-quarter 2017 net earnings for El Al Israel Airlines (ELA) fell -53.1% year-over-year (YOY) to $16.4 million, a drop from $35 million in the year-ago quarter, as (ELA) “had to cope with the huge growth in competition at [Tel Aviv’s] Ben Gurion Airport,” according to El Al (CEO) David Maimon.

(ELA), the Israel flag carrier generated revenue of $540.9 million during the June quarter, up +0.6% (YOY) despite a moderate decline in passenger traffic. (ELA) attributed to revenue growth to a +0.7% increase in passenger yield. Passenger revenue was up +1.1%, but cargo revenue decreased about -2.5%, in line with reduced air cargo being flown.

(ELA)’s flight segments in the 2nd quarter increased approximately +2.4% (YOY), but the company’s market share of passenger traffic at Ben Gurion Airport during the quarter was approximately 29.5%, compared to 34.2% in (2Q) 2016. Just >100 airlines operate at the airport.

El Al (ELA)’s operating expenses rose +4.8% during the quarter to $433.6 million, mainly attributable to an increase in payroll expenses related to the company’s wage agreements reached with its pilot union in December 2016 and February 2017. (ELA) also cited the weakening of the USA dollar against the shekel, as well as +6.2% (YOY) rise in jet fuel expenses.

(ELA) flew 1.5 million passengers during the quarter, up +2.4% (YOY); traffic was down -1.3% to 5.6 billion (RPK)s as capacity decreased -2.8% (YOY) to 6.6 billion (ASK)s, resulting in an 84.3% LF passenger load factor, up +1.2 points (YOY). Cargo traffic was down -2.6% to 114.5 (FTK)s.

El Al (ELA) (CFO) Dganit Palti said (ELA) made advance payments of approximately $24 million during the quarter for its incoming fleet of Boeing 787s. The 1st 787-9, on lease from Air Lease Corporation (ALE), was delivered on August 23. “This will lead the company to a new era,” Maimon said. “This plane is the 1st out of 16 787s [scheduled to be delivered] by the end of 2020.”

Additionally during the quarter, (ELA) moved to acquire Israir Aviation & Tourism, a leisure carrier owned by (IDB) Tourism, part of the (IDB) Group, which has interests in several sectors of the Israeli economy. “The transaction is an important element in the implementation of El Al (ELA)’s long-term strategy to diversify,” Maimon said. “[It will] allow [ELA] to increase the entire Group’s revenues and accelerate the company’s growth while increasing its volume of operations.”

The airline plans to launch a nonstop route from Tel Aviv to Miami in November, which Maimon described as a strategic step in the continued expansion of (ELA)’s route network in North America.

As of August 17, (ELA)’s in service fleet comprised 14 737-800s (6 owned by (ELA), 8 (ELA)-owned 737-900ERs, 5 owned and 1 leased 747-400, 1 leased 747-400F, 1 leased 757-200, 6 leased 767-300ERs, 6 owned 777-200ERs and 1 leased Airbus A320-200, according to Aviation Week Fleet Discovery data.

News Item A-2: El Al Israel Airlines (ELA) took delivery of its 1st Boeing 787, which will include ViaSat Wi-Fi, a new premium-economy (PY) cabin and lie-flat business (C) class seats supplied by Recaro.

(ELA), the Israeli flag carrier is acquiring 16 787s, which will start arriving in August. The 787s will enter commercial service on routes to Europe in September, before being deployed on long-haul routes to the USA and the Far East.

Giving an August 15 update, El Al (CEO) David Maimon said (ELA) was rolling out a "massive investment" in advanced seats and upgraded in-flight entertainment (IFE) with the 787 arrival, after 18 months of preparations.

The airplane will feature a new service class, a 28PY-seats premium-economy cabin, as well as a 32-seat business (C)-class equipped with Recaro lie-flat seats. The economy (Y) cabin will be configured with 222Y seats.

"High-speed internet by ViaSat will be launched in 2018 on the 787 Dreamliner airplane fleet," El Al (ELA) said. The 787s will also have high-definition Panasonic (AVOD) (IFE).

The new airplanes will be phased in by 2020, replacing (ELA)'s 747-400s and 767-300s, building on (ELA)'s 737-900 short-haul fleet renewal which is already underway.

News Item A-3: El Al (ELA)'s 1st 787-8 (4X-EDA) landed at Ben Grion Airport on August 27th.

Fleet:
(definitions)

Click below for photos:
ELA-737 WINGLETS
ELA-737-800
ELA-737-86N
ELA-737-900ER - 2012-08
ELA-737-900ER - 2013-10
ELA-737-900ER - 2013-12
ELA-747-400
ELA-747-458
ELA-747-FEB08
ELA-757-236 SUN DOR
ELA-757-236-SUN DOR
ELA-767-27E
ELA-767-300-2011-06
ELA-777
ELA-787 - 2015-11.jpg
ELA-787 - 2017-08.jpg

September 2017:

0 707-458C (JT3D-3B) (205-18070, /61) PARTED OUT.

0 737-258 (JT8D) (910-22856, /83; 919-22857, /82), SOLD 2000-04.

2 737-300ER (CFM56-3C1).

1 737-758 (CFM56-7B24) (327-29960, /99 4X-EKD "ASHKELON;" 442-29961, /99 4X-EKE "NAZARETH"), 16C, 88Y.

3 737-8HX (CFM56-7B26) (2702-36433, /08 4X-EKS; 2766-29638, /08 4X-EKF), AVIATION CAPITAL GROUP (CGP) LSD. WITH WINGLETS. 16C, 126Y.

0 737-8Q8 (CFM56-7B26) (935-30639, /01 4X-EKP), WITH WINGLETS. (ILF) 5 YR LSD 2006-02. WITH WINGLETS. 16C, 126Y.

1 737-8Z9 (CFM56-7B27) (1938-33834, /06 4X-EKU), EX-(OE-LNT) 2013-03. WITH WINGLETS. 16C, 126Y.

2 737-804 (CFM56-7B27) (502-30465, /00 4X-EKM; 505-30466, /00 4X-EKR), EX-(G-CDZL & G-CDZM) 2012-05. 30465; LST (UP) (UPA) 2014-02. WITH WINGLETS. 16C, 126Y.

3 737-858 (CFM56-7B27) (204-29957, /99 4X-EKA "TIBERIAS;" 249-29958, /99 4X-EKB "EILAT;" 314-29959, /99 4X-EKC "BEIT SHEAN"), WITH WINGLETS. 16C, 126Y.

3 737-85P (CFM56-7B27) (2871-35485, /09 4X-EKH "HADERA;" 2908-35486, /09 4X-EKJ; 2941-35487, /09 4X-EKL), BF (ARE) 2009-06. WITH WINGLETS. 16C, 126Y.

1 737-86N (CFM56-7B26) (192-28587, /99 4X-EKI), EX-(NNA), (GEF) LSD, 2002-01. WITH WINGLETS. 16C, 126Y.

1 737-86Q (CFM56-7B26) (1308-30287, /03 4X-EKO), EX-(HAP), AV CAPITAL LSD 2005-10. LST UP (UPA) 2014-02. WITH WINGLETS. 16C, 126Y.

8 737-958ER (CFM56-7B26) (41554, 4X-EHC, 2014-07), 2013-10. 16C, 156Y.

0 747-2B5BF (JT9D-7Q) (513-22485, /81 4X-AXM), EX-(CRG) 2004-11. FREIGHTER.

0 747-228F, (TLS) LSD. RTND.

0 747-238B (JT9D-7J) (233-20841, /74 4X-AXQ), EX-(QAN), 10F, 51C, 373Y

0 747-245F (SCD) (JT9D-7Q) (476-22150, /80 4X-AXL; 478-22151, /80 4X-AXK), EX-(SEA)/(SIA), SECT 41 MOD AT AMECO (BEJ) 2001-04. ALL WHITE COLORS. FREIGHTER.

0 747-258C (JT9D-7J) (272-21190, /75 ST (HYR) 2000-11) (327-21594, /78 4X-AXF). 21594 WET-LST SUN D'OR (ERO) 2002-06. 10F, 51C, 272Y.

0 747-258B (164-20274, /71 4X-AXB; 212-20704, /73 4X-AXC; 418-22254, /79 4X-AXH), 20135 PARTED OUT 1999-10. 20274 SCRAPPED 2001-06. 22254; ST TESIS AVIATION ENTERPRISES 2006-06.

0 747-300, (WLD) WET-LSD 2000-06, RTND.

0 747-341B (701-24106, /88, TF-ATH), (AID) WET-LSD 2000-08. RTND.

0 747-412 (PW4056) (955-27132, /92 4X-ELS), EX-(SIA), PALOMINO LSD 2005-02. ST (BBB), LST (CAT) 2007-01. 12F, 42C, 424Y.

1 747-412 (PW4056) (1075-26555, /96 4X-ELH), EX-(EC-LGL) 2010-11. 8F, 50C, 387Y.

1 747-412 (PW4056) (1045-26551, /94 4X-ELE), EX-(SIA), WELLS FARGO BANK LSD. 8F, 50C, 387Y.

1 747-412F (PW4056) (1036-26563, /94 4X-ELF), EX-(9V-SFA), EX-(SIA) 2010-04. FREIGHTER.

1 747-400F, ATLAS AIR (TLS) WET-LSD 2016-04. FREIGHTER.

5 +1 ORDER 747-458 (PW4056) (1027-26055, /94 4X-ELA "TEL AVIV-JAFFA;" 1032-26056, /94 4X-ELB "HAIFA;" 1062-27195, /95 4X-ELC "BEER SHEVA;" 1215-29328, /99 4X-ELD "JERUSALEM"), 29328 WET-LST TAT NIGERIA 2009-11 TO 2010-01. 8F, 49C, 348Y.

0 757-236 (RB211-535E4) (174-24120, /88 4X-EBO), (BBB) LSD, WET-LST SUN D'OR (ERO) FOR SUMMER. RTND. 192Y.

0 757-258EM (RB211-535E4) (152-23917, /87 4X-EBL, LST (ARK); 156-23918, /87 4X-EBM; 185-24524, /88 4X-EBR; 325-24884, /90 4X-EBS; 356-25036, /91 4X-EBT; 529-26053, /93 4X-EBU; 547-26054, /93 4X-EBV; 745-27622, /97 4X-EBI), (ILF) LSD, 4 LST (ARK), 23917; ST (TBC), 23918; LST (ISA) 2001-03. 24254; ST (TBC) 2001-09. 25035; WET-LST SUN D'OR (ERO) 2002-06. 23917; 24524; ST (HMY) 2002-10. ALL RETIRED. SOME SOLD TO FEDEX (FED) FOR CONVERSION TO FREIGHTERS. 5 (ETOPS). 26053, 4X-EBU; & 26054, 4X-EBV; STORED. 16C 162Y.

0 757-27B (HOL)/(ELA) JOINT VENTURE), LST (ARK), RTND (ING) 2000-05. 212Y.

0 757-27B (RB211-535E4) (24136), RTND 2000-04, (LHD) LST (MTH). 212Y.

0 757-27B (RB211-525E4) (178-24137, /88 4X-EBY), (HOL) LSD 2004-02. RTND. WET-LST SUN D'OR (ERO). RTND. 212Y.

0 757-3E7, (ARK) LSD, WET-LST SUN D'OR (ERO), RTND 2002-06.

0 767-258ER (JT9D-7R4D) (62-22972, /83 4X-EAA; 68-22973, /83 4X-EAB; 86-22974, /84 4X-EAC; 4X-EAD), 2 (ETOPS) EQ'PD, 22973; ST (SPL) 2008-10. 24C, 161Y.

2 767-27EER (PW4060A) (316-24832, /90 4X-EAE; 326-24854, /90 4X-EAF "DALIAT EL CARMEL"), EX-(AFA), 1998-12, 24C, 167Y.

1 767-3QER (PW4060) (655-27600, /97 4X-EAK), (ILF) LSD 2010-06, EX-(N271LF). 24C, 215Y.

1 767-3QER (PW4060) (692-28132 /98 4X-EAM), EX-(UR-VVT) 2012-01, 24C, 207Y.

0 767-3YOER (PW4060) (405-24953, /91 4X-EAP), (ICE) LSD 2006-05. LAST REVENUE FLIGHT 2017-01. 24C, 193Y.

0 767-33AER (PW406O) (780-27477, /00, 4X-EAL), EX-(N477AN) 2011-04. 24C, 215Y.

1 767-330ER (PW4060) (381-25208, /91 4X-EAJ "BAT YAM"), EX-(N208LS) 2004-03. 24C, 213Y.

1 767-352ER (PW4062) (583-26262, /95 4X-EAR "KFAR SABA"), EX-(VIE), (ILF) 5 YR LSD 2006-11. 24C, 213Y.

1 767-35DER (PW4062) (27902, EC-LZO), EX-(EI-FDI), PRIVILEGE STYLE (PVG) SUB-LSD 2015-06.

0/0 ORDERS 777-200ER (TRENT 892), 6F, 64C, 228Y. 4/2 ORDERS CANCELLED 2010-04:

6 +4 ORDERS (2/12) 777-258ER (TRENT 895B) (319-30831, /01 4X-ECA "PETAH TIKVA;" 325-30832, /01 4X-ECB "NETANYA;" 335-30833, /01 4X-ECC "HOLON;" 405-33169, /02 4X-ECD "RAMAT GAN;" 648-36083, /07 4X-ECE "SDEROT;" 655-36084, /07 4X-ECF), 12F, 35C, 232Y.

1 +14/13 ORDERS 787-8/787-9 DREAMLINER (4X-EDA, 2017-08).

9 ORDERS 787-8 DREAMLINER (TRENT 1000):

6 ORDERS 787, AIR LEASE CORPORATION (ALE) LSD:

1 +5 ORDERS 787-9 DREAMLINER (TRENT 1000), AIR LEASE CORPORATION (ALE) LEASED (2017-08).

0 MD-11ER, (WLD) WET-LSD. RTND.

1 A320-200, 2 ORDERS NTU.

0/0 ORDERS A330-200, TO REPLACE 767'S, ORDER SUSPENDED INDEFINITELY, QUIETLY CANCELED 2006-04.

Management:
(definitions)

AMIKAM COHEN, CHAIRMAN (2009-03).

TAMI MOZES BOROVICH, DEPUTY CHAIRPERSON.

DAVID MAIMON, CHIEF EXECUTIVE OFFICER (CEO).

LIOR YAVOR, CHIEF OPERATING OFFICER (COO).

DGANIT PALTI, CHIEF FINANCIAL OFFICER (CFO) & VP FINANCE.

ARNON ASHEROV, (CEO), SUN D'OR INTERNATIONAL AIRLINES (ERO), - NOTE SUN D'OR LOST ITS AIR OPERATORS CERTIFICATE IN 2011-03.

NADAV PALTI, FINANCE COMMITTEE CHAIRMAN.

SHIMON KATZENELSON, CONTROL BOARD CHAIRMAN.

CAPTAIN LIOR YAVOR, VP FLIGHT OPERATIONS.

SHMUEL KUZI, VP MAINTENANCE & ENGINEERING (TLVMELY).

DORON MAOR, VP CARGO OPERATIONS (2008-01).

ELI COHEN, VP COMMERCIAL.

REUVEN VIROVNIK, VP PERSONNEL & ADMINISTRATION.

NIRA DROR, VP & GENERAL MANAGER NORTH & CENTRAL AMERICA.

CAPTAIN ELIEZER MAGID, DIRECTOR FLIGHT OPERATIONS (TLVOZLY), (eliezer@elal.co.il).

CAPTAIN D GORELIK, CHIEF PILOT 747 (2002-01).

CAPTAIN S HARARI, CHIEF PILOT 747-400.

CAPTAIN SHMUEL EREZ, MANAGER FLIGHT SAFETY (TLVOXLY), (shmuele@elal.co.il).

MICHAEL MAYER, GENERAL MANAGER - NORTH AMERICA.

ISAAC NIJANKIN, GENERAL MANAGER CARGO, NORTH AMERICA, EX-(VAR), NEW YORK (2005-08).

YORAM ELGRABLI, MANAGING DIRECTOR NORTH & CENTRAL AMERICA (2016-08).

RON ACKERMAN, HEAD AIRCRAFT ACQUISITIONS & SALES.

DAN GAULNIK, DIRECTOR ENGINEERING (1996-07).

MICHAEL YACOBOVITCH, DEPUTY GENERAL MANAGER NORTH/CENTRAL AMERECA (1999-03).

A KAMM, DIRECTOR QUALITY CONTROL (QC) (1996-07).

MOTI SONSINO, DIRECTOR PLANNING & LOGISTICS (1997-08).

YEHUDA LEVY, DIRECTOR AIRCRAFT MAINTENANCE (1999-03).

R DRAPER, DIRECTOR HEAVY MAINTENANCE & SHOPS (2000-12).

MOSHE LEVERTOV, DIRECTOR INFORMATION SYSTEMS & COMMUNICATIONS.

MICHAEL ORON, DEPUTY DIRECTOR TECHNICAL DEVELOPMENT (SEAEELY)
(michael.oron@na.boeing.com).

BEN YACOV, USA WEST COAST REGIONAL MANAGER (BASED IN LOS ANGELES) (2016-01).

CAPTAIN Y ZEMER, 737NG PROJECT MANAGER (1998-04).

CAPTAIN Y SHIMONY, DEPUTY 737NG PROJECT MANAGER (1998-04).

AMNON HAMMER, MANAGER ENGINEERING STRUCTURES.

S ISRAEL, MANAGER HYDRAULICS ENGINEERING.

A YEMIEL, MANAGER STRUCTURES & INTERIORS SHOPS.

A MOSHE, MANAGER & CHIEF INSPECTOR, QUALITY CONTROL (QC).

L JAACOV, DEPUTY DIRECTOR AIRCRAFT MAINTENANCE SERVICES.

Y HERTZ, MANAGER QUALITY CONTROL (QC).

J BLUSTEIN, MANAGER RELIABILITY CONTROL.

S PASCAL, MANAGER POWER PLANT & AIRCRAFT SYSTEMS ENGINEERING.

AMIRAM KOBLINSKY, MANAGER ENGINEERING POWER PLANT & AIRPLANE SYSTEMS.

JACOB BARAK, MANAGER ENGINEERING AVIONICS (jabobb@elal.co.il).

SAMUEL AVIDAR, MANAGER MAINTENANCE SPECIFICATIONS.

SHAY ABRAHAMY, MANAGER PLANNING & DEVELOPMENT.

STANLEY MORAIS, ALLIANCE MANAGER.

E HAZAN, SUPERINTENDENT RELIABILITY (2001-06).

 
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