ELAL.TA El Al Israel Airlines Ltd. Loading... : Investor Sentiment and Bull/Bear Views
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17:35
Aug 20
Aug 20
Cheap wartime monopoly with asset downside.
El Al has become an almost monopoly on flying in and out of Ben Gurion since October 7, 2023, as Turkish Airlines, Pegasus, Ryanair and others left and El Al became the only carrier consistently able and willing to fly. The wartime disruption has produced three years of windfall profits, delevered the balance sheet from net debt to a large net cash position, and let El Al buy nine aircraft off lease, moving to roughly 80% owned fleet, with $1B+ of owned planes and a ~$700M loyalty/credit-card program as hard-asset support. It trades around 2.3x EV/EBITDA versus peers at 5-6x; normalized 2023 free cash flow was $100-200M against a ~$2B EV; two more quarters of gushing profits should further buy down EV; and the government has shown an implicit backstop/collaborative relationship. If it trades closer to airline peers on normalized earnings, that would be a nice return, with downside supported by assets.
HIGH
About ELAL.TA Investor Commentary
Across the available history and selected sources, Buzzberg tracks ELAL.TA (El Al Israel Airlines Ltd.) across 1 sources: 1 bullish vs 0 bearish calls from 1 authors. Historical directional balance: 100% = 100 × (bullish − bearish) / all deduplicated idea records, including other directions. This is neither a probability of a price rise nor the share of bullish authors. 1 total trade idea tracked. Latest voices: Adam Buckstein.