Air Transport World

El Al.

El Al, which posted a net profit of $22.7 million for full-year 1998, said it narrowed its first-quarter loss by 38% from a year earlier to about $9 million. Results included a $13 million one-time gain from sale of shares in Equant. The gain was partly offset by higher costs of a new wage agreement, a cost-of-living adjustment paid to employees and weakening of the dollar against the shekel. …

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