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  Adar 27, 5772 , 21/03/12

El Al Reports $49.3 Million Loss

El Al Airlines has reported a loss of $49.3 million in 2011, according to Globes. Spokespeople for the company attributed the loss to the rising price of oil, which led to an increase in the price of aviation fuel.

Another factor was increased competition due to a change in Israeli policy, they said.

Other archived news briefs:Mar 21 2012, 02:51 PM, 3/21/2012