El Al Israel Airlines Ltd. (TASE:ELAL) today announced that prices will rise significantly from January 3, 2011 due to the higher cost of fuel.
Fares for short haul flights will rise by $8 in each direction and for long haul flights by $16 in each direction.
An El Al statement said, "The price of jet fuel has risen back to record heights. This trend forces us to adjust new prices accordingly, as has been done by most air carriers worldwide, by making minimal additions to our ticket prices."
El Al said that the new prices will not affect bookings made until January 2, 2011. Those bookings will be at current prices even if the flight is for after January 3.
El Al's share price rose 1.5% in afternoon trading on the TASE to NIS 1.50.
Published by Globes, Israel business news - www.globes-online.com - on December 26, 2010
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