Israel government seeks $150 mln El Al share offering, airline says
The government is asking El Al to issue shares as part of a bailout package, the carrier said Sunday. El Al was seeking state-backed loans of $400m to help it through the coronavirus crisis, as foreigners are barred from entering the country and incoming Israelis must self-quarantine. The airline, which warned last month that it could collapse should talks fail to secure a loan, suspended passenger flights until at least June 20 and about 6,000 of its 6,500 workforce are on unpaid leave until June 30. Under a plan laid out by the Finance Ministry, El Al said it would receive a $250 loan mostly guaranteed by the government. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-08/unaligned/israel-government-seeks-150-mln-el-al-share-offering-airline-says
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Israel government seeks $150 mln El Al share offering, airline says
The government is asking El Al to issue shares as part of a bailout package, the carrier said Sunday. El Al was seeking state-backed loans of $400m to help it through the coronavirus crisis, as foreigners are barred from entering the country and incoming Israelis must self-quarantine. The airline, which warned last month that it could collapse should talks fail to secure a loan, suspended passenger flights until at least June 20 and about 6,000 of its 6,500 workforce are on unpaid leave until June 30. Under a plan laid out by the Finance Ministry, El Al said it would receive a $250 loan mostly guaranteed by the government. <br/>
