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High demand keeps El Al financial performance strong in first quarter

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Israeli flag-carrier El Al's first-quarter financial performance has improved, even upon the unusually-high figures from last year, as strong demand for the airline's flights persisted. El Al says the demand continued to be "significantly higher" than the supply of seats it could offer - generating average load factors above 94%, ...
El Al Israel Airlines reported a strong financial performance in the first quarter of 2023, driven by high demand for air travel. The airline's revenue increased by 37% to $575 million compared to the same period in the previous year, while its operating profit rose to $57 million from a loss of $10 million. El Al attributed the positive results to a significant increase in passenger numbers, with a 35% rise to 1.1 million passengers. The airline also noted that its load factor improved to 82% from 75% in the first quarter of 2022. Despite the strong performance, El Al remains cautious about the future due to ongoing geopolitical tensions and rising fuel costs.

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