Israeli flag-carrier El Al has generated a full-year operating profit of $113 million, and ended the period with a net surplus of $109 million.
The airline says it achieved a fourth-quarter net profit – a figure of $8.5 million – for the first time since 2015, although it points out that it benefited from $9 million in capital gain.
El Al generated revenues for the year amounting to just under $2 billion.
While its revenues for the second and third quarters had been strong, those for the fourth quarter, $561 million, exceeded the equivalent pre-crisis period of 2019.
El Al say its post-recovery strategy will concentrate on strengthening its core business, creating sustainable growth through “value-chain integration”, and expanding beyond its core activities by leveraging digital and data capabilities.
It is aiming to reach revenues of $3.5 billion by 2028.
El Al intends to achieve the target by expanding to transport 7.5 million passengers, some 24% of those travelling through Tel Aviv’s Ben Gurion airport. About 10% of the revenue figure would be derived from ancillary and non-flight services.