Report, photo copyright by : Gan Yung Chyan, KUCINTA SETIA
EL AL Israel Airlines reported on Wednesday that its earnings surged almost fourfold in 2024, and the airline is one of the few airlines still operating in Tel Aviv, Reuters reported. The company said it earned a record $545 million last year, a sharp increase from $117 million in 2023. At the same time, its revenue increased by 37% to $3.4 billion.
EL AL also said that its average fare per passenger increased by 14% in 2024. "EL AL has a strict fare policy, sets a maximum fare, and applies a flat fare to major destinations," said EL AL CEO Dina Ben Tal Ganancia.
In addition, EL AL pointed out that global airfares have generally increased due to shortages of aircraft, engines and parts, as well as supply chain delays. "The continued cancellation of flights by foreign airlines in 2024 due to changes and challenges in the security situation has forced us to deal with unprecedented demand for air travel."
EL AL's passenger load factor increased from 86% in 2023 to 94% in 2024, and revenue per available seat increased by 24%. At the same time, the company has increased flight frequencies to North America, Europe and Asia and suspended operations on other routes.
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