El Al’s shares fall as net losses widen
El Al’s share price fell 4.1% ahead of the release of its 2009 earnings on Sunday. The airline’s net loss for 2009 widened to USD76.3 million from a loss of USD41.9 million in 2008, as revenues slumped 21% to USD1.7 billion. Operating costs fell 19% to USD1.4 billion, while gross profits fell 33.8% to USD212 million.
