El Al's gold mine: Net profit of 160 million shekels per frequent flyer

El Al revealed in its financial reports that its frequent flyer club recorded net revenues of $117 million in the first nine months of the year, a 61% jump compared to last year. Net profit stood at 160 million shekels, about 42% of revenues. The club has 3.8 million members.

El Al disclosed data on its frequent flyer club in its financial reports, indicating high profitability. The club's net revenues in the first nine months of the year totaled $117 million, a 61% jump compared to the same period last year. Net profit stood at 160 million shekels ($50 million), constituting about 42% of net revenues. The club has approximately 3.8 million members, with 570,000 credit cards issued. El Al replaced Cal with Isracard as the issuer of Flycard cards, and the agreement is expected to increase the number of cards and contribute an additional 100–130 million shekels in annual profitability. However, the reports noted a reservation regarding accounting adjustments between the club's data and the group's consolidated reports.