Finance Office opposes coronavirus aid package to hard-hit El Al

El Al is facing a possible shutdown after the Finance Ministry announced Monday that it opposes approving an economic aid package that they have been negotiating with El Al for approximately two months. Office representatives told the struggling airline that the professional staff's current position is not to approve the requested aid package. However, the Finance Office's professional team said that it is under the authority of the political echelon to reverse or change the decision, and the company subsequently applied for assistance from the Israeli government. El Al chairman Eli Defes warned earlier on Monday that El Al is "likely to close" if the government does not provide financial assistance within the coming days. Defes said the company had presented requests to the Finance Ministry worth a total of $350m, in addition to an organizational efficiency plan.<br/>