El Al Cutting Ticket Prices as Oil Recedes

Tickets to States will cost $120 less from tomorrow, if flight leaves after October 18

El Al (TASE: ELAL) is lowering the price of tickets because of the retreat in fuel prices.

El Al had been demanding an extra charge for fuel, on top of the ticket price. But consumer watchdogs forced it to bundle the added price for fuel (and any other additions) into the quoted ticket price.

Haim Romano, the chief executive of the privatized airline, commented that the extra fuel cost (which is rolled into the ticket price) will run at $120 instead of $148 per ticket on long trips, such as to the U.S.

On shorter flights to Europe, the airline is lowering the extra for gas to $70, from $88.

The addition for short flights, for instance to Turkey, will be $40 per ticket instead of $52.

The new prices will come into force tomorrow, on Thursday, regarding flights that leave Israel after October 18. (If you buy a ticket tomorrow for a flight that leaves before October 18. you still pay the full price.)