Record-Breaking Financial Results for IsraelAir Group in 2024

IsraelAir Group, the parent company of IsraelAir, has released its financial reports for 2024, reporting record figures across all parameters. The company reports a record in revenue turnover - $453 million compared to $390 million last year, a record in net profit - $24 million compared to $18 million last year, a record in gross profit - approximately $79 million compared to $60 million last year, a record in cash flow from ongoing operations - $74 million compared to $27 million last year, a record in EBITDAR contribution - approximately $58 million compared to $32 million last year, and a record in the number of passengers at Ben Gurion Airport - 1.46 million passengers compared to one million passengers last year. In 2025, the company plans to increase the number of passengers by about 25% to approximately 1.8 million passengers.

Despite the return of foreign companies, the order backlog in IsraelAir's international operations as of March 23, 2025, stands at an all-time high - $216 million - this order backlog is about $130 million higher than the order backlog on the same day in 2024.

Uri Sirkis, CEO of IsraelAir Group: '2024 was a record year in the group's results, achieved thanks to a large number of significant strategic moves including investment in technology, risk distribution through subsidiaries, alongside equipping and expanding the aircraft fleet and mainly strengthening the demand for the company's products. In 2024, revenues from ancillary products doubled and growth in the average ancillary for vacation by about 45% was presented. In addition, the technological implementation of the ALTEA system led to an improvement of about $2 million, a dollar in relation to the parallel period, in revenues at the company's stations abroad.

'IsraelAir flew about one and a half million passengers, and operated about 5,400 international flights about 40% more than last year, while the number of company employees grew by about 20% compared to 2023. In 2024, IsraelAir employees performed about 10,000 reserve days - equivalent to about 35 full-time jobs, constituting about 7% of the total number of company employees. In neutralizing these jobs, and in neutralizing the growth of about 52 jobs of air crews, who were recruited to operate two additional aircraft, the number of company employees remained almost unchanged compared to 2023.

'2024 included a number of significant events supporting the company's future growth: the acquisition of control of the maintenance center in Cyprus, and increasing production capacity by about 50%. The absorption of two additional Airbus aircraft (ABX and ABY) during the third quarter, which will utilize the full potential throughout 2025. Signing an agreement to purchase another hotel in Italy through Ski Deal, with an investment of about 3 million euros; Signing a strategic agreement with Ista for a period of 5 years, including receiving an advance of $35 million; Opening the route to London in November 2024; Completing the negotiation for a customer club agreement, jointly for IsraelChart and Rami Levy Marketing Rehabilitation. Purchase of 3 Airbus 320 aircraft for a total of about $60 million. We are proud of these achievements, which establish IsraelAir as a leading, stable airline that exhibits commercial fairness. We would like to thank the 500 dedicated company employees, who also led IsraelAir this year to a record year in a wide range of parameters.'