Just days after announcing they would be indefinitely suspending all operations, El Al Israel Airlines agreed to become nationalized. This development is part of a plan regarding a bailout for the airline that has had significant financial struggles due to the COVID-19 pandemic. The Israel-based carrier and its controlling shareholder Knafaim Holdings had been in […]
El Al Israel Airlines has canceled all flights and suspended operations indefinitely. All flights, including passenger and cargo services, have been stopped. The announcement comes as the carrier reported massive losses over the first half of 2020 and after the airline’s pilots refused to fly amid a labor crisis. El Al’s CEO, Gonen Usiskhin, ordered […]
Israeli flag carrier El Al, which has been crippled by the COVID-19 pandemic, is seeking state-guaranteed bank loans of up to $400 million after finding itself in a serious cash flow crisis leading to a halt in its passenger operations. The company has already taken various measures to tackle the crisis to improve its liquidity […]
Virgin Atlantic became the latest European airline to enter the Israeli market last month when it launched flights between London and Tel Aviv. Going up against Israeli and British airline giants El Al and British Airways, respectively, the airline began service to the Holy Land on Sept. 25 with once-daily service between London’s Heathrow Airport […]
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