Yesterday evening, El Al Israel Airlines Ltd. (TASE: ELAL) published a profit warning for the third quarter of 2014, in which it said that cancellations of flights by passengers would cut third quarter revenue by up to $50 million. "The company wishes to announce that because of Operation Protective Edge there have been many flight cancellations both by Israelis and by passengers from overseas on both outgoing and incoming flights. This is in addition to a substantial drop in bookings for the company's flights," El Al's statement said. RELATED ARTICLES "Conflict will be lasting blow to tourist industry" Operation Protective Edge to cost hotels $500m "Gaza operation has no macro consequences" The company's initial estimate of the impact of the cancellations and the decline in bookings is of a fall in third quarter 2014 revenue of $40-50 million. For the third quarter of 2013, the carrier reported $643.29 million revenue. El Al's share price is down about 3.5% this morning. Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2014 © Copyright of Globes Publisher Itonut (1983) Ltd. 2013
