Israelis stay home during Gaza war, further sinking airlines’ revenues
El Al says cancellations and a slowdown in new reservations will cut its third-quarter revenues by $30 million, to $40 million.
The fighting with Hamas in Gaza is badly slowing the flow of foreign tourists into Israel, but Israelis, it turns out, have decided to wait out the turmoil at home rather than seek a safer environment abroad. This development is badly weighing on airlines’ revenues.
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