P2P: El Al Israel Airlines issued a profit warning last week indicating that hostilities in the Middle East, increased competition and rising jet fuel costs, will lead to a full-year loss.The airline said in a statement that : “The company does not have a clear forecast as to the amount, especially because of the uncertainty regarding the security situation and its consequences,” Insustry observers said last week that the carrier has suffered a steep slide in profits for Q2 in comparison to the parallel period in 2005, which was the company’s best quarter ever.
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A spokesman for the company added that market conditions and the competitive business landscape in which the company operates had worsened and that some or all of its forecasts regarding the various factors that affect its results might not hold. The carrier earned a record $64.1 million last year.