El Al’s record-breaking year continued in the third quarter with revenue just over $1 billion, or 20% more than the second quarter. Net profit was $187 million in the third quarter, compared with $52m. in the same quarter last year, El Al reported Wednesday.
Demand for El Al tickets has surged as foreign airlines have canceled flights to Israel due to the Israel-Hamas War, leaving El Al with near-monopoly status. Many Israelis are reluctant to book with other airlines even if tickets are available, fearing foreign carriers will cancel flights if the security situation changes.
El Al said it was able to increase its available seat kilometers (ASK), a measure of its passenger carrying capacity, by 15% in the third quarter as it worked to meet increased demand.
El Al’s revenue per available seat kilometer (RASK) increased 23% in the third quarter compared with the same quarter last year, it reported, adding that this was “primarily due to a significant and unusual increase in the occupancy rate.”... Read More: JPost