El Al Reports Record Revenue Amidst Profit Dip

El Al Israel Airlines achieved record revenue of $1.27 billion in the third quarter of 2026, an 18% increase year-over-year. Despite the surge in sales and near-full flights with an average occupancy rate of 95%, the airline's net profit fell by 14% to $175 million, compared to $203 million in the same period last year. The company attributes this decline primarily to a one-time expense related to the revaluation of a phantom option, which created a $24 million difference between the quarters, and increased operating costs due to rising fuel prices and currency exchange rate fluctuations, estimated at $135 million. However, profit before interest, taxes, depreciation, and aircraft lease expenses rose by approximately 3% to $367 million, supported by a 7% increase in revenue per available seat kilometer. The airline's order backlog stood at $1.1 billion at the end of September, a 16% increase from the previous year. El Al also reported growth in its frequent flyer program, with 3.78 million members, and approximately 561,000 'FlyCard' credit cards issued. The company announced a dividend payout of $116 million, its second this year. El Al's stock experienced a 3.7% decline following the report, contrasting with a significant rise after its previous earnings announcement. The airline's share price has increased by about 45% over the last six months, though with considerable volatility.