El Al Doubles Net Profit to $132 Million Despite War and Rising Costs in Q2 2026

El Al Airlines reported a significant financial rebound in the second quarter of 2026 despite facing multiple challenges including the war in Iran, flight restrictions from Ben Gurion Airport, soaring fuel prices, and a weakening shekel. The company’s revenues rose by approximately 27% year-over-year to about $986 million, up from $777 million in Q2 2025. This growth was supported by a 9% increase in available seat kilometers (ASK), driven by fleet expansion with two new Boeing 737s and reconfiguration of Boeing 777 aircraft.

The load factor slightly declined to 90% from 92% the previous year, mainly due to security-related flight restrictions in April, but recovered to 94% by June. The airline’s advance bookings reached $1.4 billion, a 20% increase compared to the same quarter last year. Revenue per available seat kilometer (RASK) increased by 12% to 11.56 cents. Despite a $55 million post-tax loss attributed to the "Roaring Lion" military operation in Q2 (with an additional $90 million loss recognized in Q1), El Al’s net profit doubled to $132 million from $66 million in Q2 2025, driven by improved EBITDAR and financing income.

Cash flow from operating activities grew by 5% to $359 million. El Al also launched EL AL TRAVEL, a new tourism services platform aimed at diversifying revenue beyond flights. The frequent flyer program expanded to 3.7 million members, up by 270,000, and the FlyCard credit card holders increased by 33,000 to 514,000. The identified purchase rate among loyalty members reached 58% in 2026.

CEO Levi Halevi highlighted the strong performance despite only two full months of operations due to the military conflict, noting increased demand and record sales volumes. He expressed confidence in continued strong results for the second half of the year and announced a new partnership with STARLINK to provide in-flight internet services to customers.