El Al to increase air fares & fuel surcharges

The company explained that various of its inputs went up in price, including jet fuel but also other products
 
El Al Israel Airlines announced last Tuesday it was increasing fares by 3.5% due to the weak dollar and increasingly high jet oil prices.
 
The company explained that various of its inputs went up in price, including jet fuel but also other products, because of the weakness of the dollar in world markets.
 
The Israeli carrier said in a statement that fuel surcharges would also be increased by between USD$5 for short haul flights and USD$16 for long haul routes, effective February 26. Fuel is one of the airline's major expenses. At the same time, much of El Al's expenses are in shekels while revenue is largely in dollars.
 
The carrier's statement noted that the Israeli Shekel had so far appreciated by about 7% against the US currency to near a 10 year peak after a 10% gain last year.
 
El Al raised on January 1 this year ticket prices by at least 4% to compensate for the weak dollar against the shekel.
 
This will be the sixth price increase for El Al since April 2007.