Israel’s flagship carrier, El Al, posted another record quarterly profit on Tuesday, continuing to benefit from strong demand and raking in historic returns as major foreign airlines resumed flights to Israel amid a lull in the war against Hamas in Gaza.
The airline, which operated almost continuously throughout the war, reported earnings of $203 million between July and September—an 8% increase from $187 million during the same period a year earlier. Revenue rose more than 7% to $1.07 billion, up from $1 billion in the corresponding quarter in 2024.
El Al planes flew at an average load factor of 95.3% during the third quarter.
The quarter also coincided with the aftermath of the 12-day conflict with Iran in June, which prompted most carriers to avoid Israel during the peak summer travel season.
The figures come after two years of record-breaking profits for the national carrier, which often operated as a virtual monopoly during the war.
The airline’s net profit surged nearly fivefold last year, reaching a record of approximately $545 million.
El Al is facing a nearly $600 million lawsuit alleging price gouging, a claim the carrier denies.
Despite an initial decline in its share of passenger traffic out of Tel Aviv, El Al still operated nearly 75% of the lucrative transatlantic flights to North America in the last quarter, with fares remaining at historic highs—boosting the company’s profitability.
Following last month’s ceasefire with Hamas, most foreign carriers have returned to Israel, triggering a significant drop in fares.
More than 60 foreign carriers are now flying to Tel Aviv, compared with 80 two years ago, before the war, according to the Israel Airports Authority.
