What’s happening
El Al Israel Airlines celebrated a monumental financial year in 2024, reporting a net profit of $545 million. The strong performance of the company led to generous compensation for its employees, particularly its pilots. As a result of a shared bonus totaling nearly $41 million, each pilot received an impressive bonus of approximately $67,600 (NIS 247,000).
Why it matters
This significant bonus distribution happens in an industry where stability is often uncertain, showcasing El Al’s successful navigation through challenges. The elevation in compensation represents an acknowledgment of the critical role that pilots and other staff play in the airline’s success and growth.
The big picture
The thriving financial health of El Al not only enhances the morale and satisfaction of its workforce but also becomes a beacon of prosperity for Israel’s broader business landscape. This robust performance reinforces the resilience and potential of key Israeli companies amid global competition.
By the numbers
A few details that highlight El Al’s significant year include:
- CEO Dina Ben Tal Ganancia’s overall compensation increased by 10%, totaling NIS 6.3 million.
- Total company profit before tax stood at an impressive $678 million, allowing extensive staff bonuses averaging 5.5 times more than the previous year.
- Employment structure of El Al with a diverse workforce of pilots, flight stewards, maintenance, and support workers all reaping substantial rewards.
What they’re saying
Sources from El Al hailed the bonus distribution as a productive outcome of earlier negotiations and a shared mechanism designed to enable all employees, regardless of level or role, to share in profit gains, expressing gratitude and hope for continued success.
This story was first published on jpost.com.