EL AL, the flag carrier of Israel, has provided an update to investors on its situation during the conflict in the Middle East, with the airline estimating $4 million in losses on days when it did not operate any flights.
On March 19, 2026, EL AL said that during the hostilities in Iran, which began on February 28, it has been operating according to recommendations and directives of Israeli authorities, including the country’s Civil Aviation Authority of Israel (CAAI).
“[…] on days when no flight activity took place at all, the direct damage resulting therefrom amounted to approximately $4 million per day of operations.”
According to the Israeli airline, it is now operating “a number of daily flights to and from Israel,” which means that the financial damages it faces from the conflict have reduced from $4 million per day.
Flightradar24 data shows that tracked departures from Tel Aviv Ben Gurion International Airport (TLV) have held steadily at around 50 per day, with a dip between March 12 and March 14, recovering to 50 and above from March 15.
In comparison, on February 27, Flightradar24 tracked 156 departures from TLV.
EL AL added that it expects demand to recover quickly and surpass the airline’s previous guidance following the end of the war in Iran.
However, the carrier warned that the situation remains fluid and the impact of the war has “not yet been fully crystallized, as well as due to the uncertainty regarding the security situation in the country and its impact on the aviation sector in general […].”
EL AL ended 2025 with revenues of $3.4 billion and a net profit of $410 million, a slight decrease compared to the net profit of $545 million a year prior. At the end of 2025, it had $1.9 billion of cash, cash equivalents, deposits, and available liquidity.
The Israeli airline’s cash flow was $157 million lower than in 2024.
Rytis Beresnevicius
