The Tel Aviv Stock Exchange traded lower on Tuesday, with red screens across all major indices. The TA-35 was down about 1%, the TA-90 had dropped around 2%, and the TA-125 was down by approximately 1.3%.
Meanwhile, El Al shares have plunged by more than 6%, following a report the airline submitted to the stock exchange regarding a request to certify a class-action lawsuit against it and eight other airlines. The lawsuit is estimated at over 800 million shekels ($238.5 millon).
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El Al faces a major class action lawsuit
(Photo: El Al spokesperson)
El Al said in a statement: “The request is based on the claim that the respondent airlines are violating the 2012 Aviation Services Law (Compensation and Assistance for Flight Cancellations or Changes in Conditions), by failing to provide assistance services, as defined by the law, to eligible passengers.”
The group seeking certification was defined as “any customers of the respondent airlines whose flights were canceled or significantly delayed from June 13, 2025, until the date the request was submitted, and who did not receive the required assistance.”
The alleged damage per class member was estimated at approximately 5,500 shekels, bringing the total estimated claim against the nine airlines to about 825 million shekels. The plaintiffs did not specify how much of that amount is attributed specifically to El Al. The company stated it will review the claims and submit its response to the court.