Israeli Carrier Shows Huge Q4 Loss but Still Announces New 17-Hour Australian Route
It was good news/bad news for ElAl Israel Airlines, the national carrier of the Jewish state on Tuesday. The company announced a new route – a 17-hour marathon flight to Australia. Despite the additional announcement of a $15 million loss in gross revenue and a negative response on the Tel Aviv Stock Exchange where El Al stock plunged 19% on Wednesday morning, the company is showing optimism and aggressiveness with new routes in addition to Australia including Dusseldorf, Tokyo and Dublin – all in 2020. What good news the carrier had come from the increased use of the new 787 aircraft which allowed the company to spend less on fuel while expanding routes.