El Al Israel Airlines posted a sharp rise in fourth-quarter profit that was partly boosted by bringing military reservists home and rivals cancelling flights to Tel Aviv due to the conflict in Gaza, forecasting a strong start to 2024 as it adjusted routes.
Israel’s flag carrier gained from being one of the only airlines flying to and from Tel Aviv after most foreign carriers halted services. Some such as Lufthansa, Swiss and Air France have resumed their Israel routes on a limited basis, while United and British Airways plan to restart flights soon, Reuters reports.
El Al CEO Dina Ben-Tal Ganancia told Reuters the fourth quarter of 2023 was “a roller coaster”, citing the initial shock of the Oct 7 attack and the need to repatriate soldiers and rebook passengers.
“The recovery came fast in December and we see the (positive) trend is going into the first quarter,” she said.