Al Israel Airlines Ltd. (Tase:Elal) The CEO Dina Ben-to the profit unexpectedly announced yesterday that it will resign before the end of the year. Ben-at the gain was appointed CEO three years ago, whose period has been very successful for the company, the shareholders and herself, so she has rewarded well.
The price of Althegh Huits the Al Has the bone finger during the last month, has increased by 160% during the past year and has a market capitalization of NICH 6.4 billion.
It is not yet known what will be the next position of Ben-Gen-Hanacia and it is possible that the 50-year-old CEO has already received sacrifices, with the market betting on the management of a foreign airline that operates in Israel. As for the identity of the next CEO of El AL, the company’s board of directors will soon begin to consider the candidates for the position that will be vacant at the end of the year.
The great achievement: agreements with the company’s employees
Ben-at the gain was appointed CEO in April 2022, becoming the first woman to direct the airline. She increased through the ranks in the AL, after 14 years in the company, previously serving as a commercial and industry VP and Director of Income Management.
She looked as CEO Duration and as a period of special challenge. He had not yet recovered from the Covid pandemic, which had left him on the verge of collapse. Duration The two years prior to its appointment, the company registered cumulative losses of almost $ 1 billion, reduced its fleet of airplanes, reduced its workforce and requested the financial support of the State and the personal company.
Since Ben-Ganancia assumed the position in May 2022, he has seen a strong recovery in business, especially after the outbreak of the war, which left the Israeli operator almost without competition on many routes towards and from Israel. This domain was translated into very high air rates and income and record gains. In total, the cumulative net benefit that he has achieved under the management of Ben-to the gain to date, in a little less than three years, is located in NIS 2.8 billion. At the same time, companies have increased by 300%.
Duration of the first year of Ben-Tal Gnancia in office, he faced a work dispute on the Covid agreements with the State, which reduced the salaries of the pilots and affected the conditions of employment. The dispute led to flight cancellations and an appeal before the Labor Court, but ended with a gradual salary agreement that restored the salaries of the pilots to their previous level in January 2023, and assured industrial peace.
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In less than a year, Ben-Ganancia resolved labor relations in the AL, which led to the signing of agreements with the workers’ administrators committees, maintenance and engineering staff, and administrative employees, as well as the new CAT Wage CAT agreement with the new cancellation of agreements of salary cat agreement of more than 100 flights, many in the last minute.
Gains Registration War Duration
In October 2023, war broke out, interrupting programmed flights to Israel. While many foreign airlines suspended the services to Tel Aviv, he continued to operate rescue flights and flights for the Israelis stranded abroad. The strong increase in the demand for company’s flights also led to a significant increase in aerial rates that led to the harsh public criticism that was taking advantage of an emergency state.
Due to the lack of competition, Al registered the strongest year in its history in 2024, a net gain of $ 541 million, five times the profits in 2023 (which was also an excellent year). But he also had to deal with a fogged image that developed after his commercial success and public criticisms or his high rates. The company published its price ranges for tickets in the Economy Class by destination, an unusual movement, designed to reduce publicism and explain the price policy used in the aviation industry.
The first quarter of 2025 was also excellent for Al. The company ended the first three months of the year with a net profit of $ 93 million, 17% more than the corresponding quarter. The market share at Ben Gurion airport in the first quarter was 44% of all flights, while in profitable routes to North America it was approximately 90%.
As for the second quarter, the company is expected to be affected by the 12 days of Iran’s operation when Israeli airspace closed. Al was mobilized for rescue flights for Israelis stranded abroad. After the successful military operation, the airspace has roopend, and the competition is expected to return to Ben Gurion airport. All this seems to have led to a negative trend in the price of the airline shares, which recently lost about 10% of its value since its peak.
Around Nis 20 million remuneration
The remuneration of Ben-to gain amounted to NIS 15 million of approximately three years with its shares options, which leads to a total or around 20 million. In 2024 his salary was NIS 6.5 million, approximately half or that was an advantage for profits and the rest was salary and compensation based on shares. The Ben-Al Genancy Bonus is 2% of the company’s profits, but is limited to Nis 3 million per year. Without the limit, the bonus would have a NIS 36 million leg last year.
In January 2025, the Institutional Shareholders of El to the al frustrated a significant increase in salary Genancy (a 25%salary increase) and the granting of options worth approximately 10 million at an exercise price that was already “at that time.
At that time, there were criticisms behind the scene about the generous compensation sacrificed to the CEO, as well as the president of the company, Amikam Ben-Zvi. The al, in the opinion of some institutional investors, enjoyed a strong increase in its net benefit due to exceptional circumstances that result from the closure of the duration of the heaven the war.
Instead of the options, which were canceled for the CEO, he compensated her and the president with a “special bonus for 2024”. The bonus was equivalent to four monthly salaries, “due to unusual activity and a special effort of office holders in 2024”. In December about three years ago, Bennencia received options for the actions of El Al. In March of this year, he exercised half or them for NIS 5.3 million (less their exercise price). She still has options that are worth around 5.4 million at the current exercise price.
Posted by Globes, Israel Business News – Y.globes.co.Il – on July 14, 2025.
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