El Al Reports Record Q3 Revenue of $1.269 Billion and Announces Dividend
El Al posted record Q3 revenues of $1.269 billion, up 18%, while net income slipped 14% to $174.8 million. The airline announced a $116 million dividend amid strong demand.
El Al Israel Airlines reported a record third quarter with revenues surging 18% to $1.269 billion, driven by robust demand and fleet expansion. Despite the revenue milestone, net income declined 14% to $174.8 million, pressured by higher financing expenses and one-time accounting adjustments.
The airline's available seat kilometers (ASK) increased by 9%, while the passenger load factor remained exceptionally high at approximately 95%. Operating profit, measured as EBITDAR, rose 3% to $367.3 million, overcoming a $135 million impact from surging jet fuel prices and unfavorable exchange rate fluctuations.
Strong cash flow from operating activities climbed 27% to $160.6 million, leaving El Al with robust liquid resources of about $2 billion against a gross financial debt of $1.12 billion. Capitalizing on its financial stability, the board announced a $116 million dividend distribution.
Looking ahead, El Al expects a 10% to 14% increase in seat capacity for the fourth quarter, though it navigates heightened operational costs, currency volatility, and evolving security dynamics.
