After several years in which the company presented reports with a negative profit line, now it can finally breathe a sigh of relief. The company published its report for the year 2022 which it finished with a net profit of 109 million dollars. The company’s total revenue last year was close to two billion dollars.
This figure comes against the background of the recovery of the aviation industry all over the world during the year 2022, when thanks to this recovery El Al presents a particularly profitable year. Just for the sake of the Holocaust, the year before it, the year 2021, El Al ended with a loss of 413 million dollars.
However, it is important to note that the company has not yet returned to the scope of its activities in the year before Corona. According to the data presented by the company in the year-end reports published in the last quarter of 2022, the activity reached about 80% of its scope in 2019. The reason lies in the fact that the company has a limitation in the field of production, due to aircraft that have not yet been used, as well as a decrease in the number of qualified pilots in the company’s staff.
Another figure presented in the reports and which does not bode well for the company, lies in the share of control of the Israeli airline in the local market. In the last year, about 22% of all flights in Bulgaria flew through the company. This compares to nearly a quarter of all flights in the previous year. This is also reflected in the number of passengers, in the last year about 4 million passengers flew on Elel, while in 2019 nearly 6 million flew.