JERUSALEM, Feb. 29 (Xinhua) -- The annual revenues of the Israeli flag carrier El Al reached an all-time high of 2.5 billion U.S. dollars in 2023, according to a financial report issued by the airline on Thursday.
The report showed a 26 percent year-on-year increase in the airline's revenues compared to 1.99 billion dollars in 2022 and a 14-percent rise compared to 2019, before the outbreak of the coronavirus pandemic.
The airline's profits amounted to 125.1 million dollars last year, marking a significant improvement from losses of 14 million dollars in 2022 and 77 million dollars in 2019.
El Al attributed the positive results to several factors, including increased demand in the aviation sector, multi-year work agreements enabling the completion of business goals, the implementation of a multi-year strategic plan, and a gradual transition to digital sales.
It further added that demand, particularly in the fourth quarter, increased due to the outbreak of the Israel-Hamas conflict that resulted in the suspension of most foreign airlines at the Ben Gurion Airport outside Tel Aviv. ■
