El Al posts record $1.27 billion third-quarter revenue as profit dips

El Al, Israel's flagship airline, took in a record $1.27 billion in revenue in the third quarter of 2026, an increase of 18 percent on the same quarter a year earlier, when revenue was $1.07 billion. The Times of Israel reported the figures on November 5, attributing the growth to continued strong demand for the carrier's flights.

Net profit moved the other way. According to The Times of Israel, profit for the July to September period was $175 million, down almost 14% from $203 million a year before, a decline El Al put down largely to a one-off charge linked to an option plan. The airline also said it would pay shareholders a dividend of $116 million. The Hebrew-language outlet News.co.il reported the same profit, revenue and dividend figures, describing the revenue as a record for the company.

What drove the revenue

The figures El Al released point to both fuller planes and higher prices. The airline said its aircraft flew 95% full on average during the quarter, a measure the industry calls the load factor. At the same time it increased the number of seats it offered by almost 9% compared with the prior year, so the high occupancy came on a larger schedule rather than a reduced one.

Average revenue per seat rose about 7% year on year, according to The Times of Israel. Taken together, those two trends mean El Al was selling more seats and earning more from each of them.

The company also reported an order backlog of $1.1 billion at the end of September, up 16% from a year earlier. For an airline, this generally refers to tickets already sold for flights that have not yet taken place, giving an indication of revenue already secured for coming months.

Why profit fell despite record sales

The drop in net profit is explained in El Al's own account by an accounting item rather than by weaker trading. An option plan typically grants employees or managers the right to acquire shares, and companies record the value of such grants as an expense. El Al described the charge as a one-off, meaning it does not expect it to recur in the same form.

The company's statement also pointed to rising costs. In remarks carried by The Times of Israel, El Al said it closed the quarter with operational performance that "surpassed our forecasts" in spite of significant cost increases driven by fuel prices. The published excerpt of that statement is cut off, so the full list of cost pressures the airline cited is not available in the reports.

About El Al

El Al is Israel's national carrier and operates from Ben Gurion Airport, the country's main international gateway, located outside Tel Aviv. As a publicly traded company it reports results every quarter, and the third quarter, covering July to September, includes the summer travel season, typically a busy period for airlines.

For readers abroad, including diaspora travellers and people planning aliyah (immigration to Israel), El Al's performance matters because the airline carries a large share of travel to and from the country. Strong demand and high occupancy, as reported here, can also mean fewer empty seats and less room for discounted fares, though the reports do not address ticket prices for passengers directly.

How the two reports compare

The two outlets agree on the main numbers. News.co.il gave the revenue and dividend as approximate figures, roughly $1.27 billion and roughly $116 million, while The Times of Israel stated them without qualification. The outlets differed in emphasis: News.co.il led with the $175 million profit and described the quarter as strong, without noting that profit had fallen from the prior year. The Times of Israel reported the decline and El Al's explanation for it.

What the reports do not say

Neither report gives the size of the one-off option plan charge, so it is not possible to say what profit would have been without it. The reports also do not say when the dividend will be paid, how much fuel costs rose, or whether El Al issued any outlook for the rest of the year.