From the Liveblog of
Wednesday, August 5, 2026
El Al profit doubles in 2026’s second quarter despite fewer flights amid Iran war
Add ToI as a Preferred Source on GoogleSharon Wrobel is a tech reporter for The Times of Israel
Israel’s flagship carrier El Al’s net profit in the second quarter of 2026 doubles despite reduced flight operations due to the US-Israel war with Iran, rising fuel prices and a negative impact of the sharp appreciation of the shekel.
In the April to June quarter, El AL reports a net profit of $132 million, up from $66 million during the same period in 2025. Damage from the war with Iran amounted to $55 million. The airline’s revenue in the second quarter increased 27 percent to $986 million from $777 million a year earlier.
When the war erupted on February 28, Israel initially closed its airspace to civilian traffic completely, forcing all airlines to cancel their flights. Since the April 8 ceasefire and the reopening of Tel Aviv’s Ben Gurion Airport to more regular activity, El Al gradually returned to full operations in May.
“In the second quarter, we experienced high demand and improved our operational metrics,” says El Al chief financial officer Gil Feldman. “The quarter’s results reflect our ability to grow while improving profitability and cash flow, despite significant increases in input costs and fluctuations in foreign exchange rates.”
“We are entering the second half of the year from a position of financial strength, with a robust balance sheet and high liquidity,” adds Feldman.
El Al reports a record order backlog of $1.4 billion and expects seat capacity to increase by 6% to 10% in the July-to-August quarter.
The Times of Israel Community.