El Al cargo flights grounded due to Airports Authority debt
The Israel Airports Authority (IAA) suspended the operation of El Al cargo flights due to the Israeli airline’s debts to the authority, a spokesperson for the IAA said Tuesday. Cargo flights – which have represented the struggling carrier’s main source of income in recent months – scheduled to take off after 6 p.m. local time on Tuesday were cancelled. Debts to the IAA amount to some NIS60m ($17.3m), a source said. The announcement marks another blow for El Al, which has so far failed to reach an agreement following months of negotiations with the Finance Ministry for a $400m government-backed bailout agreement. An emergency El Al executive meeting scheduled for Tuesday evening was attended by new Transportation Minister Miri Regev, Channel 12 reported. Securing a bailout deal is considered vital to ensure the survival of the coronavirus-battered airline.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-03/unaligned/el-al-cargo-flights-grounded-due-to-airports-authority-debt
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El Al cargo flights grounded due to Airports Authority debt
The Israel Airports Authority (IAA) suspended the operation of El Al cargo flights due to the Israeli airline’s debts to the authority, a spokesperson for the IAA said Tuesday. Cargo flights – which have represented the struggling carrier’s main source of income in recent months – scheduled to take off after 6 p.m. local time on Tuesday were cancelled. Debts to the IAA amount to some NIS60m ($17.3m), a source said. The announcement marks another blow for El Al, which has so far failed to reach an agreement following months of negotiations with the Finance Ministry for a $400m government-backed bailout agreement. An emergency El Al executive meeting scheduled for Tuesday evening was attended by new Transportation Minister Miri Regev, Channel 12 reported. Securing a bailout deal is considered vital to ensure the survival of the coronavirus-battered airline.<br/>
