Israir published preliminary results for 2022, according to which the company recorded strong results despite the high oil price and the decrease in passenger traffic compared to 2019.
The company is expected to close the past year with revenues of NIS 345-350 million, compared to revenues of NIS 127.5 million in 2021, and revenues of NIS 317.1 million in 2019 before the Corona crisis.
The gross profit is expected to be in the range of NIS 47-49 million, compared to a gross loss of NIS 1.5 million in 2021, and a gross profit of NIS 36.6 million in 2019.
Israir is expected to conclude 2022 with an EBITDA of NIS 12-14 million, compared to a loss of NIS 11.7 million in 2021, and compared to a net profit of NIS 17.8 million in 2019.
The net profit is expected to amount to NIS 14-17 million compared to a loss of NIS 35.7 million in 2021 and compared to a profit of NIS 4 million in 2019.
The company states that, despite the decrease in passenger traffic in Israel compared to 2019, Israir increased the number of passengers by approximately 8% and its market share by approximately 35%.
In 2022, the company recorded an average profit per aircraft of 2 million dollars per year (PPU), compared to half a million dollars in 2019.
For 2023, Israir plans to improve EBITDA by 7 million dollars, among other things, by integrating PTC technology with a common sales target of 100 million dollars, sales of the ATR aircraft and moving to one aircraft fleet of 7 Airbus A320 aircraft, in addition to operating 3 Aircraft on a wet lease, and the realization of the partnership with the credit cards shared with Rami Levy.
This January, the company is expected to fly twice as many passengers compared to 2019, thanks to the reception of two Airbus planes. The company also reports that this January the average price for a plane ticket will increase by $64 compared to the corresponding period in 2019. The company explains that fuel prices have increased by $60 compared to 2019.
2023 is expected to be a record year for Israir with record solo bookings received in the system amounting to $50.6 million compared to $11.9 million in 2022 and compared to $29 million in 2019.
Regarding the acquisition of the Czech airline Smartwings, Israir estimates the chances of winning at 50%, and in the second half of this January the company is expected to receive an answer regarding the nature of the continuation of the process.