Israeli Airlines (Tase: Elal), headed by Dina Bin Till Gansia, cannot dream of a better year. Revenue and profits were published in 2024, thanks to the simplification program, but more than that for the sword of the Iron War and the abandonment of Israel by most foreign airlines, allowing EL A to control the sky, and certainly on the US -lucrative road.
EL Al achieved a clear profit of $ 545 million for 2024, and 4.7 times the profits in 2023. In the fourth quarter, the airline received $ 130 million, that is, less than the third quarter – traditionally stronger its profit – when the net profit reached 187 million dollars, but still a large number.
The total revenue in 2024 was $ 3.4 billion, more than 37 % for 2023. The fourth quarter revenue reached $ 851, and 26 % more than the opposite quarter.
The total profit costs before profits before profits reached before profits (profits before benefits tax, consumption, firefighting, rent or leasing) 1.1 billion dollars, twice the number for 2023. The company ended 2024 with an amount of $ 527 million, compared to a deficit in the rights of shareholders of $ 209 million at the end of 2023.
The cash flow increased to $ 1.4 billion from $ 453 million in 2023. The cash flow was in the fourth quarter of $ 355 million, which compares 172 million dollars in the corresponding quarter of 2023.
Ambitious goal
Thanks to the strong results, and assuming that the global shortage of manufacturing and supplying new aircraft will continue in the coming years, EL promoted its expectations, set a goal of $ 4 billion in 2030, a market share of 25 % of the movement of passengers at Ben Gurion airport (7.6 million passengers), and more than four million members of the Flyer Club Club.
The company continues to reject the large general cash to raise the fare during the war, and claims that the average price height for each passenger (RRPK) in 2024 was 14 %, and that this was because it was set the maximum prices for tourist class trips. Since mid -2014, EL Al has operated trips to four destinations with fixed prices in the tourism category: $ 19 to Laranaa; $ 299 to Athens; And $ 349 for Dubai, Vienna and Frankfurt.
However, the company admits that its average revenue per kilometer available (RASK) increased by 24 % in 2024 compared to 2023, thanks to 94 % high occupancy. Commenting on the results of the previous quarter, Ben Tal Gansia jokingly said that “94 % and not 100 % apparently because we made a mistake somewhere in the count.”
According to Ben Gurion Airport numbers, EL Al flew at least 47.5 % of all passengers in 2024 (6.6 million people), an increase of 26.3 % in the previous year, a share that was strengthened even at the time.
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The price of the EL share has increased by more than 200 % since the beginning of the war, and by more than 330 % since the initial decline in the share price when the war broke out and the company issued a warning of profits, before realizing what the war would bring.
EL Al is yet unable to distribute profits distributions, due to the restrictions imposed on its agreements with the country, from which it received a rescue process during the period of the roaming epidemic, but it states in its financial statements that it has profits available to distribute 654 million dollars.
It was published by Globes, Israel Business News – En.globes.co.il – on March 12, 2025.
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