El Al Doubles Net Profit in Q2 2026 Despite Iran Conflict Impact

El Al reported a 100% increase in net profit for the second quarter of 2026, reaching approximately $132 million compared to the same period last year. This growth occurred despite a $145 million loss linked to the "Tiger Roar" operation against Iran, which lasted about 40 days and ended on April 9. The airline's operating revenues rose 27% to $986 million, supported by a swift recovery that allowed a 9.2% increase in available seat kilometers (ASK) and a 12% rise in revenue per seat kilometer (RASK).

Operating profit for the quarter was $139.6 million, up from $92 million the previous year, despite a sharp 69% increase in jet fuel expenses to $227.1 million due to geopolitical tensions in the Middle East and the closure of the Strait of Hormuz. Load factors reached around 90%, and El Al's market share at Ben Gurion Airport climbed to 50.2%, one of the highest in the company's history.

For the first half of 2026, El Al posted a net profit of $65.4 million, a significant decline from $161.5 million in the same period last year, mainly due to the suspension of regular flight operations during the conflict. The company paid out a dividend of about $102 million earlier this year and continued expanding its fleet by purchasing two Boeing 787-9 aircraft and signing an agreement to acquire six more by 2032.

Strategic initiatives included a multi-year agreement with Isracard to issue branded FLYCARD credit cards, launching a new tourism platform called "EL AL Travel," and signing a deal with Starlink to install satellite internet on its planes starting in 2027. However, CEO Levi Levy and Chairman Amikam Ben-Tzvi warned that any further deterioration in regional security could significantly impact the company's growth forecasts for the remainder of the year, which currently anticipate continued demand and seat capacity increases in the third quarter.