EL AL REPORTS Q2 LOSS

El Al Israel Airlines has reported a second-quarter net loss of $19.7 million, reversed from a $14.8 million net profit in the prior-year period. Quarterly costs rises were to blame which amounted to $470.2 million. El Al said in a statement, “Most of the increase stemmed from the costs of aviation fuel, which totaled $183.5 million [up 17.9%] … The company’s expenditure on jet fuel increased largely as a result of the sharp increase—about 47%—in the average price of the fuel, compared to the parallel quarter last year: from 227.4 cents a gallon to 334.6 cents a gallon.” Second-quarter revenue