Palestinian operator Paltel Group’s nine-month net profit declined to USD 92 million from USD 96.7 million in the same period in 2013. Operating revenues decreased to USD 385.3 million compared with USD 397.2 million during the same period in 2013. The company said the results were affected by the Israeli war on Gaza in July/August which caused huge damage to Paltel Group’s telecom equipment and infrastructure.

Recent estimates suggest a total loss of USD 32.6 million including USD 10 million as actual damage to fixed and mobile network elements, USD 14.8 million revenue loss and around USD 7.8 million for philanthropic campaigns and free minutes for the affected people of Gaza. Paltel Group expects to make up for the losses in the near future through profitable investments in operators in the region and other investments. Chairman Sabih Masri said in spite of the major damage to the group’s network in the Gaza Strip, Paltel’s technical teams worked hard and under real danger to maintain the network and avail all services to the subscribers.