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El Al hikes cargo prices

Israel Materials 25 February 2020 09:51 (UTC +04:00)
El Al Israel Airlines Ltd. is raising its air cargo prices. From information that has reached Globes it emerges that the price hike is as much as 100%
El Al hikes cargo prices

El Al Israel Airlines Ltd. is raising its air cargo prices. From information that has reached Globes it emerges that the price hike is as much as 100%, Trend reports.

In 2019, El Al transported 66 thousand tonnes of cargo, representing 35% of the air cargo reaching Israel. The figure is 2.5% below the amount of cargo that El Al carried in 2018.

Like other airlines around the world, El Al is experiencing severe difficulties because of the outbreak of the COVID-19 coronavirus. The suspension of flights to Beijing and Hong Kong and the reduction in flights to Bangkok have had their effects, on top of cancellations and a severe slowdown in bookings on the part of tourists concerned about the spread of the virus. Many business trips have also been cancelled as a result of the cancellation of conferences and international events such as the annual Mobile World Congress in Barcelona.

Air cargo traffic has been on a downward trend globally because of the trade war between the US and China. El Al recently signed a cooperation agreement with Atlas Air with the aim of raising its cargo carrying capacity (import and export of agricultural produce) on the Tel Aviv-Liege route. Liege has a large logistics center handling cargo transported all over the world.

El Al said in response to the report: "El Al has not raised prices from destinations in the East from which it carries cargo. Nevertheless, on routes on which transshipment is required on a foreign airline that has raised prices, this is reflected in the final price, but this is not a matter of higher prices or profit on the part of El Al."

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