El Al Reports $96 Million Net Profit in Q1 2025

El Al concludes the first quarter of 2025: During the first quarter of 2025, following the gradual return of foreign companies to activity at Ben Gurion Airport, there was a 63% increase in the number of passengers passing through the airport compared to the same quarter last year. However, this is still lower than the regular number of passengers on ordinary days. The company's market share in the current quarter amounted to about 44% compared to a market share of about 62% in the same quarter last year.

The main results for the first quarter of 2025: The company's revenues amounted to about $774 million, an increase of about 5% compared to the revenues of the same quarter last year, which amounted to about $738 million. The net profit amounted to about $96 million, an increase of about 19% compared to the net profit in the same quarter last year, which amounted to about $80.5 million. The increase in revenues and profitability is mainly due to an increase in the occupancy rate, which rose to 94.3%, compared to 92.6% in the same quarter last year, as well as an increase in the supply of seats per kilometer (ASK), which increased by about 7% compared to the same quarter, among other things, thanks to the expansion of the fleet of narrow-body aircraft. The return per passenger per kilometer (RRPK) fell by about 2%, reflecting the opposite effect of the 2% increase in the occupancy rate.

The EBITDAR (operating cash profit) amounted to $213 million (about 28% of total revenues), compared to about $196 million (about 27% of revenues) in the same quarter last year, an increase of about 9%. Accordingly, the operating profit in the first quarter amounted to about $127 million, compared to about $120 million in the same quarter last year, an increase of about 5%.

Dina Ben-Tal Ganesia, CEO of El Al: "We are concluding another quarter of growth and profitability improvement. In this quarter we continued to respond to the increased demand in relation to the seat capacity we can offer and made commercial and operational adjustments to increase the flight supply as much as possible. We continue to focus on managing the destination portfolio and increasing the number of flights on core routes, including lines to North America, Europe, and the Far East. We are focused on implementing the strategic plan, increasing and rejuvenating the company's aircraft fleet. Last week, the 17th Dreamliner landed in Israel, which will join the wide-body aircraft fleet, and in addition, the company decided to operate during 2026 the sixth 777 it owns, which will be converted to a Dreamliner configuration. We also purchased several aircraft that were previously on dry lease.

We continue to focus on growth engines and record in this quarter growth in the base of club members and credit card holders, in long-term orders and in financing revenues. As part of the expansion of the company's collaborations, during the quarter we signed two new agreements with TAROM and Azerbaijan Airlines. This challenging period requires us to act creatively and flexibly in order to continue to provide the best response to our customers and to maintain the air bridge to and from Israel."