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An El Al 747 on final approach (Photo: AirlineGeeks | William Derrickson)

EL AL Seeks $400 million From Israeli Government

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 by sharply reducing its expenses, suspending its investments and reducing its workforce. “El Al is one of the Israeli economy’s most significant corporate casualties from…

American Finds Cash Cushion Amid Coronavirus Pandemic

American Airlines has announced that, with government aid, it has enough liquidity to survive the travel drop-off associated with the Coronavirus pandemic. American reported its Q1 results a bit over a week ago and it revealed its current liquidity status as well as its current cash flow position. The airline…