EL Al Posts Loss On High Fuel Costs

El Al Israel Airlines posted a first quarter net loss on Thursday driven by soaring fuel costs.

El Al reported a net loss of USD$18.5 million against a net profit of USD$4.5 million a year earlier.

The firm said in a statement to the Tel Aviv Stock Exchange that jet fuel costs had risen by an average of 40 percent in the period, which added to overall costs.