The 'cheap' airline stock that beat world peers with a four-fold rally
Tel Aviv
AT first sight, investors have good reasons to shun El Al Israel Airlines shares.
The national carrier is grappling with a slump in tourism fuelled by political violence, as well as intensified competition after Prime Minister Benjamin Netanyahu's government opened the market to low-cost operators in 2013. Yet the 1.41 billion shekel (S$510 million) company has a combination of factors in its favour: falling oil prices and the strength of the shekel.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Tesla lays off more staff in software, service teams, Electrek reports
GLP says 2025 bond repayment sources identified
Volvo Cars April sales rise on strong EV demand
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring