Is El Al Israel Airlines (ELAL.TA) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. El Al Israel Airlines (ELAL.TA) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 34.6% of the company’s 33-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 26 September 2026.
El Al Israel Airlines is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Pass |
| Interest-bearing debt | 30% | 34.55% | Fail |
| Cash and interest-bearing investments | 30% | 99.01% | Fail |
| Prohibited income | 5% | 2.47% | Pass |
| Not just cash and debts | 90% | 44.65% | Pass |
Key Findings & Observations
- Interest-bearing debt is 34.6% of the company’s 33-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2).Source: AAOIFI Shari'ah Standard 21
- Cash and interest-bearing investments are 99.0% of the company’s 33-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about El Al Israel Airlines Ltd. (ELAL.TA)
Is El Al Israel Airlines (ELAL.TA) stock halal?▾
No. El Al Israel Airlines (ELAL.TA) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 34.6% of the company’s 33-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 26 September 2026.
What is El Al Israel Airlines's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. El Al Israel Airlines's ratio is about 34.6%.
How much dividend purification is required for El Al Israel Airlines (ELAL.TA) stock?▾
El Al Israel Airlines does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does El Al Israel Airlines operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. El Al Israel Airlines's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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