El Al Doubles Profit Amid Iran Conflict Despite Security Operation Losses

El Al Airlines reported a strong financial quarter with net profits doubling to approximately $132 million, compared to $66 million in the same period last year. The company's revenues grew by 27%, reaching about $986 million, driven by a rapid recovery in demand following the end of the "Roaring Lion" military operation against Iran. Despite this, the operation caused a direct loss of around $55 million during the quarter.

The airline's operating cash profit (EBITDA) was approximately $222 million, achieved despite rising fuel costs and currency exchange fluctuations. El Al attributed part of its improved results to the partial return of foreign airlines to Ben Gurion Airport, which had been limited during the conflict. Israeli airlines, including El Al, Arkia, and Israir, currently hold about 70% of passenger traffic at Ben Gurion, up from nearly 100% during the peak of the fighting in March when foreign carriers largely ceased operations.

The conflict and reduced foreign airline activity have kept ticket prices to popular destinations, such as the United States, significantly higher than pre-war levels. In the first half of the year, El Al's net profit fell to $65.4 million from $161.5 million in the same period last year, reflecting the impact of the military operation. Looking ahead, El Al has accumulated record bookings totaling around $1.4 billion and plans to increase seat capacity by 6% to 10% in the third quarter compared to last year.