El Al Israel Airlines reported its highest-ever quarterly profit, benefiting from decreased competition as a result of the war in Gaza.
El Al Reports 150% Profit Increase Thanks To Limited Competition During Gaza War
As Israel’s only reliable lifeline to the outside world in terms of air travel, El Al has maintained full operations during the war in Gaza. In fact, it even temporarily ran services over Shabbat to bring reservists to Israel for the battle against Hamas in the Gaza Strip.
> Read More: As Bombed Syrian Airports Shut Down, El Al Will Fly On Sabbat
Compared to the second quarter of 2023, El Al increased its revenue by 33% (to 839 million USD) and increased its profit by 150% over the same period (to 147 million USD).
Key factors:
- El Al operated 47 aircraft (versus 45 over the same period in 2023)
- Load factor was 92.4% (versus 86.8% in 2023)
- Ticket prices were 17% higher per kilometer than 2023
- On North American routes, El Al market share was 88.2% (versus 35.5% in 2023)
- Roughly 1/3 of the reported $147 million profit ($57 million) came from its cargo operations (a 107% increase versus 2023)
On the heels of this positive news, El Al announced it will grow further with an order for 20 Max 737 aircraft (worth $1.5 billion) plus an option to purchase 11 more. The aircraft will be delivered in the next 5-7 years.
In the long term, El Al hopes to increase its seat capacity by 40-45% on narrowbody routes and 35-40% on widebody aircraft.
Meanwhile, being on the brink of bankruptcy during the pandemic, El Al has slashed its debt from 1.7 billion USD to 611 million USD, with hopes that its remaining debt can be zeroed out by the end of the year.
> Read More: Passengers Crowd Onto El AL Flight To Israel, Sitting On Floor After Seats Run Out
Good on El Al . What they lack in service amenities , they gain in safety . Plus , Israel is righteously Biblical , which is a huge advantaget over misleading secularism .
Plus , one’s fellow passengers are likely more intelligent than Camel-a or Brandon .
Then they’re far more intelligent than Mango Mussolini and Sexist Bear.
Too bad that an airline does not take safety as seriously as the American carriers. They only care about $$$$
BS, you won’t see 19 Muslims with box cutters boarding a plane in Israel.
You won’t see an open border there like we have in America.
You won’t see far left prosecutors arguing to let criminals back on the street with no bail like we do in big cities.
You won’t see Presidential candidates there asking for funds to bail out criminals that burned a city over another career criminal passing a fake $20.
And you certainly won’t see terrorists like Omar winning elections there.
They take the safety of their citizens far more serious than we do in the United States. And you saying they only care about money shows how racist you are toward the good people of the Jewish faith.
Will the MAGA crowd like the intrusive questioning done at Israeli airports?
What act of terrorism did Omar commit?
“You won’t see far left prosecutors arguing to let criminals back on the street with no bail like we do in big cities.”
They do if they rape/kill/steal homes of Palestinians, both within Israel and without.
“You won’t see Presidential candidates there asking for funds to bail out criminals that burned a city over another career criminal passing a fake $20.”
Lol no their politicians get indicted or face trials for other types of corruption.
If there was any justice at all, El-Al would have faced the same sanctions as Russian carriers did following their illegal invasion of Ukraine, the Israeli action in Gaza which amounts to genocide is far worse.
El-Al should be grounded or at least not allowed to fly to international destinations until full reparations are paid to the Palestinian people for the Israeli genocide and destruction of their homes and communities.
Sadly I doubt this will ever happen.
Start a war, lose it, ask fir reparations. Yeah right.