The 787 will provide El Al with unmatched fuel efficiency and environmental performance.
The Chinese airline already operates direct flights from Tel Aviv to Beijing and to Shanghai.
The low cost carriers operating from Terminal 1 will pay half the parking fees paid at Terminal 3.
Cathay exec Paul Loo says he's not in the low-cost game, and advises Israeli hotels not to offer Chinese tourists Chinese food.
El Al came fiftieth of fifty airlines ranked in London Heathrow Airport's Fly Quiet and Clean League Table.
The first of El Al's 16 new Boeing 787-9s, the world's most advanced passenger airliner, will land in Israel in August
The new line makes Hainan the first airline to operate regular direct flights between China's economic capital and Israel.
The Israel Airports Authority says the lower fares will apply until a new concession is granted.
Lack of competition means fares from Tel Aviv to Europe can be cheaper than to the Red Sea resort. Can the Transport Ministry improve the situation?
The cost of ordering a vacation in Israel dropped 4.5% in 2016, while tourism purchases rose 14%.