Even the conflict with Iran didn't stop it — El Al's record profit

El Al reported a record net profit of about $132 million in the second quarter of 2026, a 100% increase year-over-year, despite a $145 million impact from Operation 'Lion's Roar'. Revenue rose 27% to $986 million, and shares jumped 10% at market open. Fuel costs surged nearly 70% due to an 85% rise in jet fuel prices. The company continues to expand its fleet and strengthen financial reserves.

El Al airlines published its financial report for the second quarter of 2026, showing a 100% increase in net profit to approximately $132 million compared to the same period last year. This occurred despite an impact of about $145 million related to Operation 'Lion's Roar'. After the report's release, the company's shares rose about 10% at the opening of trading on the Tel Aviv Stock Exchange, although they had fallen more than 14% since the beginning of the year. The company clarified that the profit figure includes a loss of $55 million related to the operation's effects on the first nine days of the quarter. Excluding this factor, net profit could have been about $190 million. This happened amid a sharp rise in fuel costs—almost 70%—due to an approximately 85% increase in jet fuel prices. Operating revenue grew 27% to $986 million. The rapid recovery after the operation against Iran, which lasted about 40 days and ended on April 9, allowed an increase in available seat kilometers (ASK) by 9.2% and revenue per seat kilometer (RASK) by 12%. Group operating profit was $139.6 million versus $92 million a year earlier. Fuel expenses reached $227.1 million amid rising prices caused by geopolitical tensions in the Middle East and the closure of the Strait of Hormuz. Flight occupancy was about 90%, and the company's share at Ben Gurion Airport rose to 50.2%—one of the highest in its history. Ancillary revenue per passenger increased from $26 to $33 due to paid services, including seat selection, baggage, and ticket cancellation options—amid uncertainty over a possible new escalation with Iran. For the first half of the year, net profit was $65.4 million, significantly lower than $161.5 million a year earlier, mainly due to the suspension of regular flights during the operation. At the beginning of the year, the company paid dividends to shareholders totaling about $102 million and continued fleet expansion: in the second quarter, it bought back two Boeing 787-9 aircraft and signed an agreement with Boeing to acquire six more, bringing the total number of wide-body aircraft to nine by 2032. El Al's liquid reserves exceeded $2 billion, and cash exceeds debt by about $900 million. The company, which five years ago was on the brink of collapse, now shows steady financial growth. Strategic initiatives were also implemented: a multi-year agreement with Isracard to issue FLYCARD credit cards, the launch of the EL AL Travel platform, and an agreement with Starlink to install satellite internet on aircraft starting in 2027. CEO Levi Halevi and Chairman of the Board Amikam Ben-Zvi warned that a worsening security situation could negatively affect the company's forecasts for the rest of the year, despite expected demand growth and increased seat supply in the third quarter.