JERUSALEM, Feb 27 (Reuters) - El Al Israel Airlines on Thursday said it expects a loss in revenue of $50-$70 million in the January-April period due to the global coronavirus outbreak.
The estimate did not include the impact of a new travel warning from Israel that barred entrance from foreigners arriving from Italy.
Of the drop in sales, $40-$50 million will be in the first quarter. Israel’s flag carrier said the loss will be partly offset by a decline in operating expenses, so the final impact on its January to April results will be $25-$45 million, of which $15-$30 million will be for the first quarter.
Shares in El Al were down 7.6% in late afternoon trading. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)