El Al Cuts Flights to Europe & US

Published by Globes [online],
www.globes.co.il
May 5, 2002

Sources inform "Globes" that El Al Airlines has cut its flights to European destinations by 10-30%, due to a steep fall in the number of European tourists visiting Israel and the number of Israel's flying to Europe.

One of the main reasons for the decline in tourism is Israel's negative image in European public opinion, which has deterred people from visiting Israel and led Israelis to avoid visiting Europe. Among the destinations cut is Belgian capital Brussels, to which El Al has reduced its weekly flights from seven to six.

El Al has also reducing the number of its weekly flight to the US in recent weeks.

The number of travelers flying to Israel and on internal Israeli flights has fallen 17.3% since the beginning of the year, compared with the corresponding period last year. The number of travelers on international flights in January-April is down 32.1%, compared with 2000, and 15.7%, compared with 1999.

El Al acting CEO Yitzchak Amitai said that El Al would make further adjustments to the current situation. "Reports that El Al is unable to pay salaries are unfounded. Our cash flow is adequate," Amitai added