El Al Isreal Airlines (ELAL) Q4 2024 earnings summary

Executive summary

• 2024 revenue reached $3,432M, net profit $545M and load factor 94%; revenues, EBITDAR and net profit all rose YoY.

• Q4 revenue was $851M and net profit $130M, with a 96% load factor.

Financial highlights

• FY 2024 revenue $3,432M, up 37% YoY; EBITDAR $1,112M, up 100%; net profit $545M, up 367%.

• Q4 2024 revenue $851M, up 26% YoY; EBITDAR $275M, up 71%; net profit $130M, up 226%.

• FY 2024 ASK 28,008M, up 12% YoY; Q4 ASK 6,609M, up 9% YoY.

Outlook and guidance

• 2030 targets: revenue above $4B, ASK 35B, EBITDAR margin 17–21%, net debt/EBITDA below 3x and cash balance above 15% of revenue.

• Revised fleet expansion is aligned with expected aircraft delivery pace; bridging solutions are under consideration.

• 2030 free cash flow after debt service projected at $240–278M, excluding taxes and dividends.