AIRLINES

El Al Israel Airlines 1994 Profits Soar: The airline, which is to be privatized later this year, reported sharply higher profits of $14 million for 1994, up from $9.9 million in 1993. Revenue rose 11.7% to $1.036 billion. The national carrier just emerged from receivership, paving the way for its privatization. It went into receivership in 1982 after huge losses and years of labor unrest. The government plans to sell off a 51% stake. The first public share offering is scheduled for May on the Tel Aviv stock exchange. El Al, a major player in the international air cargo market, said the amount of cargo flown rose 6.5% to 197,00 metric tons.