
El Al Almost Quintuples Profits
El Al Israel Airlines, headed by Dina Ben Tal Ganancia, could not have dreamt of a better year. It posted record revenue and profits in 2024, thanks to its streamlining program, but even more so to the abandonment of Israel by most foreign airlines after the Swords of Iron War, allowing El Al to dominate the skies, certainly on the profitable U.S. route.
El Al posted a net profit of $545 million for 2024, 4.7 times the profit in 2023. In the fourth quarter, the airline earned $130 million, less than in the third quarter — traditionally its strongest quarter — when net profit was $187 million, but still a big number.
Revenue in 2024 totaled $3.4 billion, 37% more than in 2023. Fourth quarter revenue was $851 million, 26% more than in the corresponding quarter.
EBITDAR (earnings before interest tax, depreciation, amortization, and rent or leasing costs) totaled $1.1 billion, double the figure for 2023.
The company ended 2024 with shareholders' equity of $527 million, versus a deficit of shareholders' equity of $209 million at the end of 2023. (JPost/VFI News)
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