finance
El Al Reports First-Quarter Net Loss of $67 Million
El Al Israeli Airlines posted a net loss of $67 million for January through March, reversing a $96 million profit from the same period a year earlier. The carrier attributed the results to reduced commercial flights amid the ongoing conflict involving Iran.
May 20, 4:44 AM·1m read1 source
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El Al Israeli Airlines recorded a net loss of $67 million for the first quarter of 2026, compared with a net profit of $96 million in the same period a year earlier. The airline said the loss stemmed primarily from the closure of Israeli airspace to most commercial flights during the conflict involving Iran.
Revenue fell 27 percent to $562 million. El Al also cited a weaker dollar against the shekel and higher fuel costs as contributing factors to the quarterly results.
The airline’s performance reflects broader disruptions to air travel and trade routes linked to the conflict. Iranian officials have stated that job losses in the Strait of Hormuz area are tied to security conditions and restrictions on Iranian shipping.
France’s defense minister said her country has no confirmation that mines have been placed in the strait but is preparing demining assets for possible deployment.
Jordan reported shooting down an unidentified drone that entered its airspace, with no casualties and only minor damage. Pakistan’s interior minister is traveling to Tehran for talks aimed at restarting negotiations between the parties.
