Getting your Trinity Audio player ready...
JERUSALEM (JTA) — El Al Airlines said it is laying off 200 workers after a steep increase in fuel costs hit its bottom line.
Top executives also agreed to pay cuts, Reuters reported, after the airline announced a 51 percent drop in its third-quarter net profit.
Jet fuel prices rose by 47 percent, raising the airline’s jet fuel expenditure from $160 million to $205 million in the third quarter, the Israeli business daily Globes reported.
Passover may be over, but your chance to support independent Jewish journalism isn't. Help JTA keep reporting the stories that define our era.
