EL AL is hampered in many ways due to not every nation wanting to deal with the Jewish state and its entities.
For instance SIN - while SIN would be very welcoming to EL AL - its impossible to get in and out of SIN as Malaysia and Indonesia will not allow EL AL overfly rights.
How are you going to differentiate the security issue. I know I always fly EL AL to Isreal due to the security, if that changes then it opens up competition for me, and maybe for many other pax.