El Al Chops Fuel Charges, Fares On Oil Drop
January 18, 2009
El Al, Israel's flag carrier, said on Sunday it was reducing fares and fuel surcharges in light of a steep drop in oil prices and a slowing global economy.
Surcharges would fall by between 40 and 65 percent, effective on Monday, El Al said in a statement. The surcharge on the Tel Aviv-New York route will drop to USD$200 from USD$332.
In addition, leisure fares would drop by 15 percent on short routes and 14 percent to 30 percent on long-haul routes such as North America and the Far East.
El Al lowered fuel charges last September after raising them and fares sharply numerous times last year when oil prices spiked.
Crude oil prices have slid more than USD$100 a barrel since peaking in mid-2008.
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