El Al more optimistic on Q4 performance despite conflict

Israeli flag-carrier El Al believes its Q4 results will not be as badly affected as previously estimated, despite the impact of the Gaza conflict. El Al has taken various commercial, financial and operational measures to address the effects of the conflict which began in early October. But it states that there is increased demand for its flights, and it has added capacity on popular destinations. “Since the outbreak of the war there has been a significant increase in the scope of cargo activity,” it adds – both in dedicated freighters and passenger aircraft holds. El Al also says there has been a “significant drop” in the price of jet fuel. It states that, given these various considerations, it expects its business results for Q4 to be “better than early estimates”.<br/>