El Al’s cargo revenues down

Losses due to challenges affecting global markets

air cargo revenues economic challenges El Al fuel prices global markets net loss open skies policy

El Al Israel Airlines’ air cargo revenues went down by 7 per cent, year-on-year, to $47.6 million, in the second quarter of 2012. The Israeli carrier posted a net loss was $6.2 million during the quarter.

In a press release, El Al officials said that even though there were losses, the numbers were impressive, considering the economic challenges affecting global markets, the “open skies” policy and the surge in fuel prices.