The reduction in net profit for the fourth quarter will be $7-9 million.
El Al Israel Airlines Ltd. (TASE: ELAL) today announced that it initially estimates the cost of November's Operation Pillar of Cloud on its net revenue (income after deducting fees) at $15-17m, due to cancelled and reduced reservations.
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 $7-9 million. Most of the cost will be reported in the financial report for the fourth quarter of 2012. (net revenue less activity to minimize the damage after deducting extraordinary expenses during the period of the military campaign).
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2012
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