Sunday, November 03, 2024

Israeli El Al airline pilots, executives raking in huge bonuses thanks to the Hamas/Hezbollah war

War profiteers?

"... The jump in value is of course due to the circumstances of the war which has seen El Al's share price jump 170% since last October. Because so many foreign airlines have stopped flying to Israel, El Al has become a monopoly on many routes, particularly between Israel and North America, and has had a 46% market share of passengers flying to and from Ben Gurion airport. This situation has led to a jump in fares and huge profits. On those profits, El Al does not pay taxes to the state, as it is still carrying over large losses from previous years, and the company is not expected to pay tax on its profits in the coming quarters either. ..."

El Al pilots, executives raking in huge bonuses - Globes "El Al's 555 pilots will each receive an average bonus of $67,500 this year, as the airline makes record profits due to lack of competition."

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