El Al Israel Airlines is backed by the Abraham Accords
El Al came out stronger than the pandemic! This was noted by Oranit Beit Helmy Amir, the general manager of the Israeli company for Central and Western Europe and Africa. In 2022, the director explains, El Al has a turnover of more than $2 billion [près de 2 milliards d’euros]better than in 2019 », the last year before the Covid-19 crisis. The company even recorded a profit of nearly 100 million euros.
performance, because Israel only reopened its borders in May 2022., you remember. The airline has benefited from the pandemic’s passage to “to restructure”. It cut its costs and fired nearly half its workforce, going from 6,000 employees to about 3,000. But, spurred on by a stronger-than-expected return to business, “Rehired as soon as traffic resumes.”We now have 4,500 employees.
And the company is already reaping the fruits of the Abraham Accords, the peace treaties concluded in 2020 between Israel, the UAE and Bahrain, which also made it possible to normalize relations with Morocco and Sudan. These agreements gave new opportunities.Get to know the general manager.
Low cost subsidiary
Now, Dubai and Morocco are among the busiest destinations. Above all, this policy of relaxation with the Gulf countries makes the company’s activity easier and more profitable. significantly “Because today we can fly over Oman and Saudi Arabia”m welcomesI Helmy Amir’s house. More direct routes mean fuel savings.
The company has outlined a five-year strategy to reach a turnover of $3.5 billion in 2028. By this date, it plans to carry 7.5 million passengers against only 4.2 million in 2022 and 5.8 million in 2019. At the same time, the company plans to carry 7.5 only one million passengers. Revenues will be developed, such as seat selection or extra baggage, which will increase from 4% of turnover in 2022 to 10% in five years.
While one might think that frequent turmoil in the Middle East is detrimental to development, this is not the case, says the general manager: So far, we don’t see any impact. on the contrary. We did not notice any cancellations due to events. Attendance continues to increase. Over the years, commuters have become more flexible. » The company is expanding its clientele, which is heavily dominated by affinity, to search for passengers most interested in tourism.
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