El Al reports record $1.27 billion revenue and enters Tel Aviv 35 index

El Al Israel Airlines Ltd. reported yet another very strong quarter, with revenue reaching a new record of $1.27 billion. Building on its high market share at Ben Gurion Airport, the airline posted an 18% increase in revenue for the third quarter of 2026, although profit saw a 14% decline to $172.2 million, according to Globes.

Part of the reason for the fall in profit was because the company wrote down the value of its stake in credit card firm ICC-CAL following a collapsed sale to George Horesh and Harel, an insurance firm. That write-down negatively impacted El Al’s results by $13.4 million.

The airline’s EBITDAR rose 3% to $367 million despite rising fuel prices and a stronger shekel adding $135 million in costs. El Al’s order backlog reached a record $1.1 billion, up 16%. Looking ahead to the fourth quarter, El Al anticipates strong demand and a 1% to 4% rise in fares compared with last year.

Cash flow reached $161 million, up 27%, growing its cash surplus to $910 million. The airline is moving its Frequent Flyer Club to Isracard, with enrollment exceeding forecasts and 373,000 cards now issued by Isracard. El Al is making history by entering the Tel Aviv Stock Exchange flagship index, the Tel Aviv 35, backed by a market cap of NIS 11.3 billion following a 588% share price surge over three years.

For your money in Israel, the airline's index entry and projected fare increases mark another milestone in its post-insolvency turnaround.