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El Al Drops to 2-Month Low as Ministry Assigns Security Costs

March 2 (Bloomberg) -- El Al Israel Airlines slumped to the lowest level in more than two months as Minister of Transport and Road Safety Israel Katz said the company was responsible for covering security costs until a new government agency is formed.

The shares of Israel’s largest carrier fell 4.4 percent to 1.40 shekels, the lowest since Dec. 15. at the 4:30 p.m close in Tel Aviv.

The ministry said it plans to present a plan for the formation of the agency by the end of March. El Al has said the government should assume all responsibility and costs for aviation security.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at swrobel4@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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