El Al reports quadrupled profits amid war and closed skies

El Al Airlines released its financial report for the fourth quarter of 2023, revealing a significant boost in market share from 22% to over 80% due to the ongoing war.

During the fourth quarter, the company's revenue surged by 21% compared to the previous year, reaching $677.8 million, while earnings soared to $40 million, marking a 4.69-fold increase.

In total, the company achieved a record-breaking revenue of $2.5 billion for the year, with profits climbing by 7% to $116.7 million.