Israeli Airlines (Tase: ELAL) The Tel Aviv (Tase) was informed that it had received the approval of the state to resume the distribution of profits to investors in 2025, one year before the agreement signed with the state during the Kofid's pandemic.
However, El Al will will not be able to distribute stock profits to the registry profits obtained in 2023-2024. In 2024, due to the war, which was made by the dominant airline in the sky of Israel, where foreign transport companies stopped to Israel, especially on the profitable roads to the United States, EL Al has reached record profits of $ 545 million, which is almost five times the year 2023, in record revenues of $ 3.4 billion, an increase of 37 % of 2023, which itself was recorded.
Related articles
The eL pilots receive approximately 250,000 rewards for each of them
Al -Salah agrees to withstand higher security costs
Distribution of profits
EL Al now announced that it will be able to distribute up to 30 % of net profits in 2025 and up to 40 % in 2026-2028. After that, there will be no more restrictions on the distribution of profits.
EL Al also confirms that the state agreed to amend the agreement (canceling the condition of restriction of profits), after it completed El Al “to pay all the loans provided by the state to the company, which reached a total of 45 million dollars, in the fourth quarter of 2021.”
EL also notes that as of today, “no decision has been taken regarding the distribution of profits in 2025, and if such a decision is made, it will be published in an appropriate manner.”
In January, “Globes” revealed that the state and the Al -Als have agreed to an agreement that increases the airline from the share of security expenses and in return, the state will allow the company to distribute profits distribution for a year, due to unprecedented reinforcement in the company's business. The state pays 97 % of aviation security expenses.
According to the original agreement between the state and the company, in the wake of the Covid epidemic, he was unable to distribute profits at all until the end of 2025, then only 30 % of its profits can distribute until the end of 2028.
The ceiling of the market in the fourteenth market has become the most valuable
Last month, as part of the state approval deal, El Al announced that it would increase security costs on its flights by $ 5 million to 10 million dollars annually, so that the country will bear 95 % of security expenses next year and decline to 29.5 % by 2029 (compared to 97 % of the company's security expenses today).
In the past three years, El Al AL jumped by approximately 270 % and is currently being traded at a value of 5.4 billion NIS. The EL Al AL jump made the largest company in terms of the maximum stock market listed in the Tel Aviv index 90.
It was published by Globes, Israel Business News – En.globes.co.il – on April 14, 2025.
© Copy Publish Publisher Itonut (1983) Ltd. , 2025.
Comments are closed, but trackbacks and pingbacks are open.