El Al has reported its 2024 profits, and it’s staggering – 4.7 times higher than in 2023. The airline’s $3.4 billion revenue in 2024 marks a 37% surge, fueled by soaring ticket prices and a near-monopoly on flights to and from Israel amid the Israel-Hamas war. As international airlines suspended operations, citing security concerns, El Al became the lifeline connecting Israel to the world. However, with that dominance came fierce criticism, as desperate travelers faced skyrocketing fares, limited availability, and accusations that the airline was exploiting the crisis for profit. With most foreign carriers grounded, demand for El Al flights exploded. Many Israelis, fearing cancellations by foreign airlines, chose El Al regardless of price, leading to a 14% average fare increase. The company also ramped up its operations, increasing seat availability by 12%, and filling planes to an astonishing 94% capacity, compared to 86% in 2023. El Al’s fourth-quarter revenue alone hit $851 million, a 26% jump from the same period in 2023. By the end of 2024, the airline’s equity swelled to $527 million, a dramatic turnaround from the $209 million debt it carried just a year earlier. Despite its financial success, El Al is facing mounting backlash. Customers have accused the airline of price gouging, with ticket prices surging to levels far beyond pre-war rates. Many Israelis who had once seen El Al as a national symbol of resilience now question its commitment to the public, particularly after the company marketed itself as a pillar of support during wartime while simultaneously raising fares. “The year 2024 presented us with complex national and business challenges, but we demonstrated our ability to successfully overcome them,” said El Al CEO Dina Ben Tal Ganancia, defending the airline’s record-breaking profits. In response to public outcry, El Al capped ticket prices on select routes, attempting to ease consumer frustration. However, for many, the move came too late, as families had already struggled to afford flights home or had missed crucial travel opportunities. (YWN World Headquarters – NYC)