This morning, El Al reported to the Securities Exchange its financial results for the fourth quarter of 2021 with a pre-tax loss of $ 110 million. El Al ended the entire year of 2021 with a loss of $ 413 million, compared to $ 531 million in 2020.
At the same time, El Al noted that there was an improvement of approximately $ 73 million in cash flow from operating activities in the fourth quarter compared to the corresponding quarter last year and an improvement in adjusted cash flow operating profit throughout 2021, despite three rounds of severe traffic limits due to the corona.
It also shows that El Al’s sales turnover, throughout 2021, is on the rise and amounted to $ 857 million, compared to $ 623 million in 2020.
Another encouraging statistic is that in 2021, the percentage of passenger activity in all of El Al’s activity, compared with 2019, was 32%, compared with 21% in 2020.
El Al ends 2021 while maintaining EBITDAR (Cash flow operating profit) Positive This is the fourth consecutive quarter and positive cash flow from operating activities (excluding past liabilities) in the quarter of $ 10 million.
Avigal Sorek, CEO of El Al, said this morning: “The company’s results in 2021, with an emphasis on the fourth quarter of the year, reflect the continuous improvement in the company’s operations and the continued implementation of the strategic plan. “El Al has recently focused on managing the crisis, and now, with the company’s stabilization, the realization of streamlining processes and the strengthening of financial strength, we are focusing on increasing production capacity and developing growth engines.”