EL AL Israel Airlines CFO Yancale Shahar said the airline was “significantly impacted” by the closure of Israeli airspace between June 13 and 25.
Despite a 14% increase in activity during the second quarter, revenues fell 7% to $777 million. Net income fell 55% to $66 million. The company's EBITDAR was $179 million.
“In July, we resumed full operations and increased ASK by 8% compared to July 2024," said Shahar. "For Q3, we anticipate a 19% increase in seat capacity versus Q3 2023, while foreign carriers are expected to reduce their supply by 64%.”
As of the end of the second quarter, the airline had a liquidity of $1.9bn, financial debt of $1.4bn, and equity of $789 million. The airline's load factor averaged at 92.5%.