Fri. Feb 7th, 2025

The war continues and El Al faces criticism for its 260% increase in profits

November 21th 2024 , ,
The Al Boeing 787 at Paris Charles de Gaulle Airport in Roissy-en-France, France. Photo: DiscoA340, CC BY-SA 4.0, via Wikimedia Commons.The Al Boeing 787 at Paris Charles de Gaulle Airport in Roissy-en-France, France. Photo: DiscoA340, CC BY-SA 4.0, via Wikimedia Commons.

Since the Hamas attack on October 7, and after a year of tensions with Iran and Hezbollah, most foreign airlines have suspended flights to and from Israel for extended periods of time.

As a result, El Al was left in a near-monopoly position, and consequently, it reported record revenues of $260 billion during the third quarter of the year, marking a 187% increase in its net profits, which reached $52 million, compared to $2023 million in the same period in XNUMX. 

During the summer season, Israel's national carrier's revenues rose 43% from a year earlier, saying its planes operated at 94% capacity, compared to 88% in the same quarter in 2023.

El Al has come under heavy criticism for imposing exorbitant airfares, with many saying the company is taking advantage of the tough domestic environment.

However, Dina Ben Tal Ganancia, CEO of the airline, said: “El Al has been operating in emergency mode for over a year. Our goal is to keep the skies open between Israel and the world.”

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