An extended form of the Ackeret iteration method, applicable to arbitrary profiles, is utilized to calculate the compressible flow at high subsonic velocities past an elliptic cylinder. The angle of attack to the direction of the undisturbed stream is small and the circulation is fixed by the Kutta condition at the trailing end of the major axis. The expression for the lifting force on the elliptic cylinder is derived and shows a first-step improvement of the Prandtl-Glauert rule. It is further shown that the expression for the lifting force, although derived specifically for an elliptic cylinder, may be extended to arbitrary symmetrical profiles.