El Al posts huge profit surge


El Al posts huge profit surge

Wednesday, 20 Nov, 2024 0

Israel flagship carrier El Al has seen a huge jump in Q3 profits with few major competitors still flying to Israel.

It reported a mammoth 260% increase in its third-quarter profit.

It reported earnings of $187 million from July to September, up from $52 million over the same period a year ago.

It has a near-monopoly on many routes as many foreign airlines have still suspended flights due to the Gaza and Lebanon conflicts.

Revenue during the quarter was up by 43%.

El Al’s load factor was also significantly up from 88% last year to 94%.

Since October 2023, many major international airlines, have suspended Israel flights.

There is very little competition from the US and western Europe for El Al although there are competing services from the Gulf and eastern Europe.

The airline has been accused of price gouging which it denies and has responded by imposing price caps on some routes such as Athens and Dubai.

 



Related News Stories:  SkyTeam Airline Alliance | Official Website     Air India drops Tel Aviv flights     United orders SAF for Chicago flights     Universal Orlando Resort - TravelMole     Partner News - TravelMole    



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Mark Jaronski of Explore Georgia on FIFA World Cup 2026

Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange

North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari