El Al Reports Higher Revenue, Lower Profit, Big Dividend
The airline said EBITDAR rose 3% to $367 million as strong summer demand and a record order backlog offset higher fuel and currency costs.
- On Thursday, El Al Israel Airlines reported record third-quarter revenue of $1.27 billion, an 18.2% increase from last year, though net profit declined 14% to $172.2 million as operating expenses rose.
- Rising fuel prices and currency fluctuations added approximately $135 million to expenses, while a one-time $24 million revaluation of a phantom option plan also weighed on quarterly results.
- Passenger demand remained strong with El Al carrying approximately 2.26 million paying passengers, achieving a 95% load factor while increasing cash flow from operating activities to $161 million, up 27% year-over-year.
- El Al announced a dividend distribution of approximately $116 million, its second major shareholder payout this year, as the airline prepares to join the Tel Aviv Stock Exchange's flagship TA-35 Index.
- Projections show a 10% to 14% expansion in operations for the fourth quarter, though CEO Levy Halevy warned that intensifying competition and higher fuel prices remain significant challenges ahead.
10 Articles
10 Articles
EARNINGS REPORT: El Al Posts Record $1.27 Billion In Third-Quarter Revenue As Net Profit Falls 14%
El Al posted record third-quarter revenue of $1.27 billion, up 18%, but net profit fell 14% to $172.2 million. The national carrier maintained a 38% market share at Ben Gurion Airport. Rising fuel prices and a stronger shekel added about $135 million to costs, but El Al’s order backlog reached a record $1.1 billion. The […]
El Al Posts Record $1.27 Billion Quarterly Revenue
TEL AVIV (VINnews) — El Al Israel Airlines reported record third-quarter revenue of approximately $1.27 billion on Thursday, an 18.2% increase from the same period last year, as strong passenger demand and expanded flight capacity helped the Israeli flag carrier deliver its highest quarterly sales in company history. The airline also announced a dividend distribution […]
El Al reports record $1.27 billion revenue, but quarterly profit falls 14% despite tr
Israel's flagship airline posts $172.2 million in third-quarter net profit as surging fuel costs and currency fluctuations weigh on earnings; El Al announces a $116.2 million dividend, with passenger demand and advance bookings reaching record levels
Coverage Details
Bias Distribution
- 57% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
