(JNS) El Al Airlines on Wednesday announced a record profit of over $80 million in the first quarter of the year.

The unprecedented number for Israel’s national carrier comes at a time when many international airlines have suspended service to Tel Aviv in the wake of the nearly eight-month-old war against Hamas in Gaza, and amid complaints of price gouging that has sent airfares soaring.

By comparison, the company posted a net loss of nearly $35 million in the corresponding quarter last year.

El Al accounted for 62% of the passenger traffic at Ben Gurion Airport in the first quarter of 2024, according to the Israel Airports Authority, compared with 22% in the first quarter of 2023.