As “Globes” was mentioned in January, Israel Airways Ltd. (level:Elal)) It seeks to obtain the approval of the state to distribute profits on its profits before the end of 2025. The airline, under the leadership of CEO Dina Ben Till Gansia, is a more step than this goal by announcing its willingness for more security costs. In other words, the state will contribute slightly lower to the security costs of El Al.
This step is a very important step for El Al The country's approval will open the door distributions to EL Al to distribute huge sums to investors, first and foremost the owner of the company, Kenny Rosenberg, who received control of the company during the Covid's pandemic.
According to EL Al advertise, the state's contribution will decrease in EL Al Al AL security in the coming years, from 97.5 % today to 95 % next year, 94 % in 2026 and 92.5 % in 2029. The company also estimates that the cost of more than $ 500 in the company will range from $ 500. 2030.
The state El Al did not allow the distribution of stock profits since 2017, but the airline has hoped to obtain the green light to do so, perhaps, market sources believe, even before the results of the fourth quarter are published in the coming days.
EL Als recorded huge profits in 2024
The airline’s desire to resume distributing the distributed profits follows unprecedented profitability, due to its hegemony over the sky of Israel throughout the war. In the first nine months of 2024, EL Al has a profit for more than 400 million dollars, and it is expected to end the year with profits of about $ 500 million.
The company recently informed the optimism of investors, “The company is conducting advanced negotiations with the state on the issue of reducing the company's obligations, as shown in additional agreements with the country in 2021-2022, including signing distribution distribution. Set it, if any.
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EL Al also notes that “the state will make an effort to study measures to simplify the operations of the aviation security system”, and that “the parties may agree to extend the agreement period until December 31, 2034” in such a case, the amount of EL Al's participation in security expenses will increase by an additional million dollars in 2032.
With the possibility of the state's approval of the company's profit distributions, EL Al -AL has completed a leap of about 50 % since the beginning of the year (and 336 % over the past three years), which gives a maximum of the market by about 5.9 billion ng.
It was published by Globes, Israel Business News – En.globes.co.il – on March 3, 2025.
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