El Al has reported its 2024 profits, and it’s staggering – 4.7 times higher than in 2023. The airline’s $3.4 billion revenue in 2024 marks a 37% surge, fueled by soaring ticket prices and a near-monopoly on flights to and from Israel amid the Israel-Hamas war. As international airlines suspended operations, citing security concerns, El Al became the lifeline connecting Israel to the world. However, with that dominance came fierce criticism, as desperate travelers faced skyrocketing fares, limited availability, and accusations that the airline was exploiting the crisis for profit. With most foreign carriers grounded, demand for El Al flights exploded. Many Israelis, fearing cancellations by foreign airlines, chose El Al regardless of price, leading to a 14% average fare increase.
Recent comments