El Al Israel Airlines Ltd. announced on Thursday a record profit of $147.4 million in the second quarter of 2024.
The airline garnered revenue of $839 million in the April-June period, 33% more than the $630 million it earned in the same time period in 2023.
In the first quarter of 2024, Israel’s flagship carrier recorded a then-record profit of $80.5 million from revenue of $738 million.
On Wednesday, the airline signed “the largest agreement in its history,” for up to 31 Boeing 737 MAX aircraft at a cost of $2.5 billion.
The planes will replace El Al’s 737-800 and 737-900 fleet, with delivery beginning in 2028.
“This deal represents a further step in the realization of our strategic plan, and will support expansion of our destinations map, greater frequency of flights to existing destinations, and an advanced flying experience,” the company said.
The company has been criticized for raising its prices after Oct. 7, as many international airlines have suspended service to the Jewish state due to the resulting war against Hamas in the Gaza Strip and the low-intensity conflict with Hezbollah in Lebanon.
El Al accounted for 62% of the passenger traffic at Ben-Gurion International Airport in the first quarter of 2024, according to the Israel Airports Authority, compared with 22% during the same period the previous year.
