El Al Israel Airlines issued a profit warning last week indicating that hostilities in the Middle East, increased competition and rising jet fuel costs, will lead to a full-year loss.
The airline said in a statement that : "The company does not have a clear forecast as to the amount, especially because of the uncertainty regarding the security situation and its consequences," Insustry observers said last week that the carrier has suffered a steep slide in profits for Q2 in comparison to the parallel period in 2005, which was the company's best quarter ever.
A spokesman for the company added that market conditions and the competitive business landscape in which the company operates had worsened and that some or all of its forecasts regarding the various factors that affect its results might not hold. The carrier earned a record $64.1 million last year.
El Al issued a profit warning for the second quarter of 2006
El Al Israel Airlines issued a profit warning last week indicating that hostilities in the Middle East, increased competition and rising jet fuel costs, will lead to a full-year loss
24.07.06 / 00:00
•
More articles that may interest you
Haifa Port closed
Mofaz pledges supports for open skies policy
Israel -EU Chamber of Commerce was inaugurated
Feller: "New operators will be able to revive Haifa Airport"
Lynn: “Forgeries are a cancer eating away at the fabric of our economy"
IJS GLOBAL Signed An Exclusive Partnership Agreement with EILAT Gateport
More news from Air Transport Section
>El Al to inaugurate direct flights to Los Angeles/17.07.06
>Israel and the Ukraine: new bilateral air service agreement signed/10.07.06
>Israel Airports Authority completed improvements to Eilat Airport/10.07.06
>1H, 2006 - Ben-Gurion Airport hits record/10.07.06
>Ministry of Tourism: "easyJet" will commence flights to Israel within the next two years/03.07.06
>CAL Cargo Air Lines celebrated 30th anniversary/25.06.06
>Israeli-Jordanian new International Airport will replace Eilat airport/25.06.06
>El Al decided to freeze purchasing of new planes/25.06.06
>IAA: A new runway and a fourth parking slip will be built at Ben Gurion Airport/25.06.06
>Air Madrid to file request for designated carrier status to Israel/19.06.06