The spate of Israel flight cancellations by international airways, after a missile launched by the Houthi rebels from Yemen hit Ben Gurion Airport earlier this week, has created confusion and frustration amongst many Israelis planning to fly overseas. However buyers within the shares of Israeli airways El Al Israel Airways Ltd. (TASE:ELAL) and Israir (TASE: ISRG), which proceed to fly and have even added flights to satisfy greater demand, have benefitted from the state of affairs.
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El Al’s share value has risen 12% thus far within the three buying and selling days this week, including NIS 500 million to its present market cap of NIS 6.5 billion. Israir has risen much more sharply by 15% this week and at present has a market cap of NIS 645 million.
The most important beneficiaries of all this are the controlling shareholders who acquired their stakes within the airways through the aviation disaster attributable to the Covid pandemic. El Al’s controlling shareholder is US businessman Kenny Rozenberg, who has a 48% stake at present value NIS 3.12 billion, whereas grocery store retailer Rami Levy has a 39% stake in Israir at present value NIS 251 million.
This isn’t the primary time that the 2 airways, and particularly El Al, have profited from flight suspensions by international airways. Over the previous 12 months, El Al’s share value has risen 135%, primarily because of excessive demand after international airways deserted Israel after the outbreak of the battle, leaving El Al with a digital monopoly on North American routes, resulting in report income and income. In 2024, El Al reported report income of NIS 3.4 billion and web revenue of $545 million, 4.7 occasions greater than its revenue in 2023.
Israir’s share value has risen 65% over the previous 12 months and the airline reported income of NIS 453 million in 2024 and a web revenue of NIS 22 million.
Printed by Globes, Israel enterprise information – en.globes.co.il – on Might 6, 2025.
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