$203 Million Profit for El Al in Q3

El Al concludes the third quarter with reports including the main results for the third quarter of 2025: The company's revenues for the quarter amounted to approximately $1,074 million compared to about $1,003 million in the same quarter last year, an increase of about 7%.

The average seat kilometer (ASK) in the quarter increased by about 3% compared to the same quarter last year, despite the fact that there were fewer working days in the current quarter compared to the same quarter, mainly due to the timing of the holidays. The growth stems from the continuation of the trend of building production capacity, including the training of pilots and air and ground crews, the absorption of employees, the absorption and return to activity of aircraft, etc. In addition, the group increased the volume of its seats by increasing the fleet of leased aircraft (ACMI), adding the 17th Boeing 787 aircraft and the use of another Boeing 777 aircraft. The occupancy rate (LF) in the quarter increased by about 1.5% and amounted to about 95.3% compared to about 93.8% in the same quarter.

EBITDAR (operating cash profit): Despite the increase in revenue turnover, the operating cash profit (EBITDAR) for the third quarter of 2025 remained similar to the same quarter last year. The current quarter was characterized by a slowdown in the contribution of cargo operations, the strengthening of the shekel against the dollar which affected the increase in expenses and also provisions recognized for updated estimates for the dismissal due to legal claims in the amount of about $12 million.

The net profit for the quarter amounted to about $203 million compared to about $187 million in the same quarter last year, an increase of about 8%. The increase in net profit is due to the continued improvement in the group's financing item and the recognition of other revenues, net in the amount of about $5.2 million, mainly due to the valuation of the phantom option of the club company.

El Al CEO, Dina Ben Tal Gennesia: "We are concluding another quarter that was affected by a changing security reality in which we experienced high demands for the company's flights due to limited supply at Ben Gurion Airport combined with the high seasonal demand of the summer season and the holidays. Even at this time, we continue to develop the company's production capacity, expand the aircraft fleet, train manpower, including recruiting and training air and ground crews. From the fourth quarter, we see a recovery trend at Ben Gurion Airport with the return of foreign companies which we estimate will continue gradually throughout 2026. The broad financial resilience and high liquidity will anchor the company's growth and continue to lead the Israeli aviation industry."

"And on a personal note, after about two decades in the company, I am soon ending my role as CEO of El Al. It was a fascinating and exciting period in a company that is an Israeli symbol, and soon I will pass the baton to Levi Levi, who enters the role when the company is in excellent momentum and on a path of growth and consolidation. I would like to thank the people of El Al for the shared journey, for their commitment, dedication and their great love for the company. I thank the owners and the chairman of the board for the close cooperation, the professional accompaniment and the confidence they gave me and the management team along the way, and also the shareholders for the support and trust they express in the company and its operations in recent years. I wholeheartedly believe in the people who lead El Al forward every day, and wish Levi Levi success in his new role and in leading the company to further achievements."

El Al's Chairman of the Board, Amikam Ben Zvi: "I would like to thank Dina for a significant tenure period and for her contribution to the continued consolidation of El Al as the leading airline in Israel, and wish her great success in her future path. The recent reports indicate the impressive financial strength of the company and significant progress in achieving the goals in accordance with the strategic plan we presented. Levi Levi enters a challenging and fascinating role, at the peak of a unique period. We are confident and sure of his success and give him full confidence that he will lead El Al responsibly and wisely."