Record Profits at Israeli Airlines: Israir and El Al Present Impressive Third-Quarter Figures
Israeli airlines Israir and El Al have published their financial reports for the third quarter of the year (July–September), revealing exceptional growth with figures pointing to a strong recovery and growing passenger demand.
Israir: New Records in Profitability and Activity
Israir ended the quarter with a net profit of $20 million – a record for the airline. The result reflects demand for the airline’s flights, alongside improved business management.
During the quarter, Israir flew 570,000 passengers and operated about 4,000 flight segments. According to Israel Airports Authority data, the airline was responsible for about 10% of departing flights from Ben Gurion, making it one of the main operators at the airport.
El Al: Impressive Growth in Profits and Revenue
El Al presented an exceptional quarter with improvement across all the main parameters:
- The load factor on the airline’s aircraft jumped to 94%, compared with a global average of only 84%. Before the war, the airline’s load factor stood at 88%.
- The airline’s revenue totaled no less than $1 billion, up 44% on the same quarter last year.
- El Al’s net profit jumped 258% to $185 million – a figure that puts the airline in an excellent position for continued growth.
- El Al’s fares rose by 16% compared with the same quarter in 2023, contributing to the increase in revenue.
What’s Behind the Success?
Growing demand for flights, especially in the summer months, together with management efficiency, service improvements and higher ticket prices, contributed to the impressive growth of both airlines. In addition, relative stability in the Israeli aviation market alongside the resumption of flights to popular destinations helped improve the figures.
Where Is the Industry Heading?
Both reports reflect a positive period for Israel’s aviation industry, but the challenges haven’t disappeared. The approaching winter season may bring a natural drop in demand, and the security situation in Israel continues to affect consumer and tourist decisions. The quarterly reports of Israir and El Al reveal a new era of growth and profitability in Israeli aviation. Investments, efficiency and improved service are bearing fruit, but international and local challenges will require the airlines to keep adapting to a changing reality.
The article was written based on public information from the companies’ reports.
