Israel To Grant El Al Loan Guarantees If It Lays Off 2,000 Staff

El Al
El Al has said state support is essential for it to weather the crisis.
Credit: Joe Pries
Israel´s government will grant El Al Airlines loan guarantees for 80% of a $400 million loan to help it survive the COVID-19 crisis on condition that the nation’s flag-carrier lays off a third of its 6,000-strong workforce as part of a restructuring. The Times of Israel reported that the loan is...
Kurt Hofmann

Kurt Hofmann has been writing on the airline industry for 25 years. He appears frequently on Austrian, Swiss and German television and broadcasting…

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