El Al Israel Airlines Ltd.

ELALTASEIL0010878242₪8.5B

Investment Thesis

Generates revenue primarily from scheduled passenger air transportation, complemented by air cargo transportation. Additional revenue comes from ancillary services such as loyalty-program economics, duty-free sales, third-party aircraft maintenance services, and airline catering/handling-related services.

Geographic Exposure

Europe46.55%

America41.74%

Asia and Africa11.71%

Revenue Drivers

Passenger air transportation

Scheduled and leisure/charter passenger flights and passenger ancillary add-ons.

CORE89.6%

Air cargo transportation

Cargo carried in passenger aircraft holds and dedicated freighter operations.

PERIPHERAL7.8%

Ancillary aviation services

Loyalty economics, duty-free sales, third-party maintenance, catering and handling services.

PERIPHERAL2.6%

End Markets

Leisure travelers (households)
Corporate/business travelers
Travel agents, tour operators and wholesalers
Freight forwarders and cargo agents
Other airlines (maintenance and catering customers)

Specializations

Interline and codeshare agreementsFrequent-flyer earn/burn partnershipsWet leasing for passenger operations (Sun d'Or)Aviation security services for airlinesKosher airline catering productionAir cargo consolidation services+2 more

Activities

Airline operations and route network management
Sales, marketing and distribution (direct digital and travel-agent channels)
Cargo sales and capacity management (via freight forwarders/agents)
Loyalty program management and partnerships
Catering production and provisioning