Israel News for 2-29-2024

News Update

Rocket fire from Lebanon and IDF strikes against Hezbollah terror targets continue. Rockets were intercepted above Haifa. Israel struck a terror targets in Damascus last night and today. [This situation cannot continue for much longer.]

Hundreds of civilians swarmed around humanitarian aid trucks that entered into northern Gaza this morning, attempting to loot them. Hamas terrorists fired at the crowds. Dozens were killed in the stampede. Part of the crowd threateningly approached soldiers near the crowd. The soldiers fired warning shots in the air. Palestinians are falsely claiming that soldiers shot at the crowd, killing 70 and wounding 280. [The media will most likely run with the Palestinian fake news, causing major backlash and protests against Israel.]

The war in Gaza has had a positive impact on the fourth quarter results of El Al Israel Airlines Ltd. With almost all foreign airlines halting flights to and from Israel in the fourth quarter of 2023, El Al had a monopoly on many of the routes to and from Tel Aviv. Consequently, El Al had an 80% market share in the fourth quarter of 2023, compared with 22% in the previous quarter.

In 2023, El Al reported net profit of $117 million, up from $109 million in 2022. In the fourth quarter of 2023, net profit was $39.7 million, up 370% from the corresponding quarter of 2022. Revenue in the fourth quarter of 2023 was $677.8 million, up 21% from the corresponding quarter and operating profit was $161 million, up 58% from the corresponding quarter.

For a complete list of the soldiers killed in the ground offensive, click here.