El Al Profits Are Down In Q3

November 23, 2017 | Israel’s flag carrier El Al Airlines had a steep drop in profits in the third quarter and first nine months of the year. Reports speculate the drop had to do with less operating days in September due to the Jewish holidays, a rise in jet fuel prices caused by an oil price increase, the strength of the shekel against the dollar and more. El Al reproted its revenue was down 2.7 percent to $626 million in the third quarter. According to Calcalist, which reported the drop, operating profit fell 28% to $69 million and net profit went down 29% to $49 million. Volatile trading continues as shares are going up and down.