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El Al: operation Pillar of Cloud cost US$15-17m revenue

The loss in revenue due to cancelations and a drop in bookings
24.12.12 / 00:00
El Al: operation Pillar of Cloud cost US$15-17m revenue
24.12.12
El Al: operation Pillar of Cloud cost US$15-17m revenue

El Al Israel Airlines Ltd. said last Sunday it lost an estimated US$15 million to US$17 million in revenue due to cancellations and a sharp drop in bookings as a result of November's eight days of fighting between Israel's army and Hamas.

El Al said that it took various measures to minimize the damage, as a result of which the reduction of its net profit will be US$7- US$9 million (net revenue less activity to minimize the damage after deducting extraordinary expenses during the period of Israel's military campaign).

Most of the cost will be reported in the company's financial report for the fourth quarter of 2012.

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