El Al has announced record profits in the second quarter of 2024, despite ongoing regional tensions and the war in Gaza. The company reported earnings of $147.4 million, a staggering increase from the first quarter’s $80.5 million.
El Al’s success can be attributed to its status as one of the few airlines still operating flights to and from Israel, as several international carriers have suspended services due to the conflict. The airline has capitalized on this situation by increasing prices.
However, El Al’s CEO, Dina Ben Tal Ganancia, has declined to comment on the record-breaking profits, refusing an interview request from a local radio program.
In related news, El Al has confirmed a major deal with Boeing to purchase up to 31 Boeing 737 Max planes, worth around $2 billion, as part of a fleet overhaul. The contract will add 20 Boeing 737 Max planes to its fleet, with the option to purchase up to 11 more. This move will enhance the airline’s existing all-Boeing fleet, which currently consists of 44 aircraft.
The new additions will join EL AL’s short- and medium-haul fleet, which already includes 24 Boeing 737-800 and -900 aircraft. The airline’s long-haul routes are operated by larger Boeing 777 and 787 Dreamliners, totaling 20 planes.
Deliveries are expected from 2027.
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8 Responses
After decades of losing money under government ownership and some poorly-managed predecessors the new ownership must be kvelling. They clearly will need greater profits and cash flow to fund the new Boeing 737 max orders as well as the heightened security implemented since October 7th. This short-term monopoly will not last long so its logical for them to maximize their profits in the interim.
So a “frum” owner is raking in record profits while ripping off Klal Yisroel. But they have davening times and learning on the screens. What a disgrace.
Yes, enormous profits. It cost 3400 dollars for a ticket!!!! Does it cost double the regular price just because others are not flying???? Profiting from people who want / need to go …..and there are no other options. Such gaava and chutzpah to take advantage of the situation of supply and demand. You rae entitled to make a profit, but overcharging because you can get away with it!!! Simply not yashrus.
Ok in the spirit of honesty can we just admit that they’re charging upwards of $6,000 a ticket these days and whether or not other airlines are flying nobody has the right to charge that type of extortion. And then on top of that the nerve to brag about profitability. Where is the monopoly laws? Where is the antitrust laws? How can a government let such a thing go on On The Backs of the suffering public? They should rot for what they are doing. Enjoy the profits now I hope we will all remember later and choose a different Airline, yemach shemam
I”m not sure where you people are making up your numbers from but a round trip economy ticket costs in the vicinity of $2500 round-trip. which is well within the realm of reasonable especially given the fact that supply is far lower than demand
Elal has not forced any of the competition to cancel their flights, they have all done it on their own. So now Elal is left as the only reliable carrier who have decided to fly come what may when all the other airlines did not. Nobody is forcing anyone to go to Israel. In my eyes it is a luxury and if anyone chooses to go it is their choice and need to cough up what ever they ask for. I have not bought a Cybertruck because it is too expensive. I dont go around cursing Tesla that they charge too much. Elal is a business. They have checks and balances and their bottom line is to make money. They are offering a service to those that choose to fly to Israel. If you dont like the prices dont fly. I dont buy things or go on vacations I cannot afford. Society today think that they need to do everything that the rich people can do. Stop this crazy mentality
If El Al were truely sinister, they would cut a deal with the Iranians to make sure that El Al would have a monopoly on flying to Israel.
I’ve never commented on anything before but this really has to be addressed.
Maybe think about their potential rising costs before you start spreading Loshon Hora about them. Like, I don’t know, insurance premiums rising on multi-million dollar planes now flying over a war zone. Hmm, maybe also they have to pay their pilots more for the inherent risks involved as well. Not sure but just maybe it’s possible they aren’t just greedy and you’re guilty of motzei shem ra. Or maybe you were mevatel the obligation of Dan Le’kaf Zechus.
Maybe.