El Al Posts Record Q3 2026 Revenues and Announces $116 Million Dividend
El Al reported record-breaking third-quarter 2026 financial results with revenues reaching $2.696 billion in the first nine months. The airline announced a $116 million dividend and celebrated its entry into the TA-35 index.
El Al Israel Airlines closed the third quarter of 2026 with robust financial results and record-breaking operational performance, highlighted by all-time high revenues, enhanced financial strength, and a major milestone with its entry into the TA-35 flagship index of the Tel Aviv Stock Exchange. Furthermore, the carrier announced a dividend distribution of approximately $116 million, marking its second payout this year.
Revenues from passenger and cargo transportation in the first nine months of 2026 totaled about $2.696 billion, representing a 5.68% increase compared to roughly $2.551 billion during the same period in 2025. This reflects an overall revenue growth of approximately $145 million, driven by sustained high demand. The core of this activity relies on European and USA markets, which together accounted for about 87.24% of total company revenues during this timeframe.
European Market Leads in Scale and Growth
A geographical breakdown of revenues illustrates the widening gap between the European continent and the American market. Europe serves as El Al's largest and fastest-growing revenue source, generating approximately $1.266 billion—representing 46.96% of total revenues—which marks a 7.47% increase, or an addition of about $88 million, compared to roughly $1.178 billion in the corresponding period last year.
Meanwhile, the USA market yielded approximately $1.086 billion, accounting for 40.28% of total revenues. This reflects a more moderate growth of 3.53% compared to about $1.049 billion in the same period last year, translating to an increase of roughly $37 million. Revenues on Asian and African routes totaled approximately $344 million, making up 12.76% of total revenues and marking a 6.17% rise from about $324 million in the first nine months of 2025.
Third Quarter Highlights Sharp Surge in European Routes
The third-quarter results of 2026 further underscored the immense demand for European destinations, as revenues from flights to the continent surged by 19.92% to total approximately $614 million, up from about $512 million in the parallel quarter last year.
Overall passenger and cargo revenues reached approximately $472 million compared to about $414 million in the same period, reflecting a 14.01% increase. Concurrently, Asian and African routes also posted a positive quarter with revenues of approximately $137 million, a 14.17% growth compared to about $120 million in the third quarter of 2025.
Cargo Operations: Expansion in Dedicated Fleet and Belly Hold
Alongside the passenger segment, the cargo division also demonstrated consistent expansion. Dedicated cargo aircraft generated revenues of approximately $76 million in the first nine months of the year, representing a 26.67% jump compared to about $60 million in the corresponding period. In the third quarter alone, revenues from this activity stood at approximately $20.3 million, a 2.53% increase from about $19.8 million in the parallel quarter.
Cargo carried in the belly holds of passenger aircraft yielded approximately $113 million in the first nine months, an 8.65% growth compared to about $104 million last year. The third quarter witnessed a sharp 27.78% spike in revenues from this sector, totaling approximately $46 million compared to about $36 million in the third quarter of 2025.
