American Airlines Halts Flights Amid Escalating Crisis in Israel
American Airlines has announced the suspension of all its flights to and from Israel until next April, amidst escalating tensions in the region. Although the airline has yet to release an official statement, reports from the Israeli Broadcasting Corporation confirm this significant decision. The suspension comes as a response to increasing threats of attacks against Israel, particularly from Iran and Lebanese Hezbollah, prompting numerous international airlines to follow suit.
Impact on International Air Travel and Israeli Airlines
The ripple effect of this crisis has led to the cancellation of flights by various international airlines, including those from India, Finland, Spain, the Netherlands, and South Korea. Notably, EasyJet and Cathay Pacific have also suspended their flights until next March. This widespread disruption has left many travelers seeking alternatives, while also raising concerns about safety in the region. As airlines reassess their operations, the travel landscape is undergoing significant changes.
El Al Airlines Sees Unprecedented Growth Amid Crisis
In stark contrast to the challenges faced by international airlines, Israeli airline El Al has reported record profits during this tumultuous period. The company has seen a remarkable 150% increase in quarterly profits, attributed to its near monopoly in the aviation sector following the mass cancellations of foreign flights. El Al's net profit for the second quarter soared to $147 million, up from $59 million the previous year, reflecting a surge in demand as it capitalizes on the situation. With revenues climbing 33% to $839 million and an increase in passenger load factor, El Al is positioned as a key player in the region's aviation market.
