El Al doubles second quarter profit

Despite losses caused by Operation Roaring Lion, El Al posted a $126 million net profit for the second quarter, and sees the momentum continuing.

El Al Israel Airlines (TASE: ELAL) reports a 27% rise in second quarter revenue in comparison with the corresponding quarter of 2025 to $986 million. The company posted a net profit for the quarter of $125.9 million, 103% higher than in the corresponding quarter.

These results were achieved despite a loss of $55 million in the first nine days of the second quarter because of Operation Roaring Lion against Iran. Were it not for that, the airline would have posted a net profit of nearly $190 million for the quarter.

Most of the damage from Operation Roaring Lion came in the first quarter, when El Al posted its first quarterly loss in three years, amounting to $69 million.

El Al, headed by Levy Halevy, explains the sharp rise in revenue and profit by the fact that after the war with Iran it restored full operations by the beginning of May, and that demand for flights rose substantially thereafter.

The company says that it expanded its supply of seats by 9% in the second quarter of this year in comparison with the corresponding quarter, and posted a 12% rise in RASK (revenue per available seat kilometer) to $0.1156, that is to say fares were higher than in the corresponding quarter.

On the other hand, a rise in the price of jet fuel because of the rise in the price of oil caused by fears of renewed hostilities between the US and Iran, and the appreciation of the shekel, had a negative impact on the airline’s profit.

The momentum will continue

El Al is optimistic about the third quarter, of which a month has already gone by. "During the third quarter of 2026 the trend of strong demand for the group’s flights will continue," it says. The airline estimates that its weighted ASK (available seat kilometers) will grow by 6-10% in the quarter in comparison with the third quarter of 2025, and that the rise in fares will continue, such that its RASK will rise by 4-7%. The load factor (the percentage of seats occupied on flights) is expected to remain above 90%.

Bookings continue to rise, amounting to $1.4 billion at the end of the second quarter, which compares with $1.2 billion at the end of the second quarter of 2025.

El Al also states that the number of members of its frequent flyer club grew by 270,000 in the year to the end of the second quarter, to 3.7 million. 514,000 people hold its Fly Card credit card, representing a rise of 33,000 over the year.

El Al has a market cap of NIS 8.4 billion. From the beginning of the year to this morning’s opening its share price fell by about 10%, but it has risen by nearly 8% in today’s session so far, following the release of the second quarter results. In the past five years the share price has risen by some 400%. The controlling shareholders, Kenny Rozenberg and his son Eli Rozenberg, hold shares worth over NIS 3.5 billion.

Published by Globes, Israel business news - en.globes.co.il - on August 5, 2026.

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