Israeli airline El Al reported a remarkable financial recovery in the third quarter of 2024, driven by increased demand and successful operational adjustments.
The company's revenue increased to approximately $1.004 million, an increase of 20 percent from the previous quarter. In addition, the number of available seat kilometers (ASK) increased by 15 percent, while the seat load factor (LF) rose to approximately 94 percent - a significant increase year-on-year. The company was able to significantly increase profits, with net profit reaching $187 million, a significant improvement compared to $52 million in the third quarter of 2023.
These positive results are also reflected in cash flow, which saw a significant increase of around $320 million. The company also benefited from a capital increase and increased profitability, while financial debt was reduced. El Al CEO Dina Ben Tal Ganancia stressed the airline's continuous efforts to keep Israeli airspace open, which is of great importance for Israel's economic and diplomatic situation.
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