El Al Israel Airlines reported a significant increase in its second-quarter net profit, more than doubling compared to the same period last year, driven by a recovery in flight operations and a near-monopoly position amid ongoing regional tensions. The carrier posted net earnings of approximately $126 to $132 million for the quarter ending in June 2026, up from around $66 million a year earlier. Revenue rose to nearly $986 million, marking an increase of roughly 27 percent from the previous year.
The airline attributed some of the challenges during the quarter to the conflict between Israel and Iran, known as Operation Roaring Lion, which resulted in estimated losses of about $55 million in the early days of the quarter. Despite these disruptions and rising jet fuel costs fueled by increased oil prices and geopolitical uncertainty, El Al managed to offset these headwinds through increased flight activity and higher fare yields.
Following a period of diminished commercial flights due to the conflict, El Al restored full operations by early May. The return of flights, coupled with the absence of many foreign carriers—especially U.S. airlines that delayed resuming services to Tel Aviv—allowed El Al to expand its market share considerably. The airline's share of passenger traffic at Ben-Gurion International Airport rose to just over 50 percent in the second quarter, up from around 40 percent in the same quarter last year. On routes between Israel and the United States, El Al's market share increased to over 90 percent from about 76 percent the previous year. This boosted revenues on North American routes by approximately 25 percent to nearly $398 million.
The airline also reported a high load factor of 90 percent, slightly lower than the 92 percent recorded in the second quarter of 2025. It increased available seat capacity by about 9 to 10 percent during the quarter through the addition of two Boeing 737 aircraft to its short-haul fleet and the return of older Boeing 777 planes to service. Average revenue per available seat kilometer (RASK) rose by approximately 12 to 15 percent, reflecting higher fares.
El Al's order backlog stood at around $1.4 billion based on advance bookings, showing growth compared to $1.2 billion a year earlier. The airline expects further growth through the third quarter of 2026, forecasting a 6 to 10 percent rise in available seat kilometers and a 4 to 7 percent increase in RASK. Load factors are anticipated to remain above 90 percent.
The airline’s frequent flyer program also expanded, with membership reaching 3.7 million—an increase of 270,000 over the year—and the Fly Card credit cardholder base growing by 33,000 to over 514,000. Despite a roughly 10 percent decline in its share price earlier in 2026, El Al's stock increased by nearly 8 percent following the earnings announcement. Over the past five years, the airline's shares have gained about 400 percent in value.
El Al, led by CEO Levy Halevy and backed by controlling shareholders Kenny Rozenberg and his son Eli Rozenberg, emphasized its strong financial position following the quarter. The company’s Chief Financial Officer, Gil Feldman, highlighted the airline’s robust balance sheet, liquidity, and optimism for continued growth amid sustained demand.