“$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners”
EL is a buy; current valuation offers downside protection via assets and warrants re-rating to peer multiples.
assuming the ATL normalizes fine, they're still going to have a cash balance. They're still going to have They're still going to own 80% of their fleet. Like 2 years ago it was like it was only 50% of the fleet.
I think about this all the time. You're right. Like this screams This thing is over-earning, right? Like how could you not be concerned that there's going to it's going to mean revert, and the stock's not going to work because it's just going to be very difficult.