El Al expecting $50m impact from Israeli crisis

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Israeli flag-carrier El Al is warning of a $40-50 million impact on its third-quarter financial results as a result of the conflict that has flared up in the country.

The airline says there have been "numerous" cancellations by Israelis and foreign travellers on inbound and outbound flights, as well as a "significant" fall in bookings.

It attributes the situation to the crisis linked to its military operations in Gaza.

El Al says the financial impact is based on an initial assessment of the cancellations and bookings, adding that it will "adversely affect" the results of the third quarter.