El Al chairman steps down for medical reasons
The chairman of El Al Israel Airlines, Eli Defes, is stepping down immediately because of an undisclosed medical condition, he said on Sunday. Defes joined El Al's board in 2015 and became chairman in 2017. It was not immediately clear who would replace Defes, but it would probably be one of two vice chairpeople: Yehuda Levy or Tamar Mozes-Borovitz. Israel's flag carrier is fighting for survival after the COVID-19 pandemic added to its difficulties, forcing it to suspend flights and furlough most of its employees. It has reported losses for the last two years and racked up debt to renew its fleet. Last month Eli Rozenberg, a US citizen resident in Israel, offered to funnel $75m into the airline in return for a 45% stake. At the same time, El Al is in advanced negotiations for a government bailout to avoid bankruptcy following the pandemic.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-08-17/unaligned/el-al-chairman-steps-down-for-medical-reasons
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El Al chairman steps down for medical reasons
The chairman of El Al Israel Airlines, Eli Defes, is stepping down immediately because of an undisclosed medical condition, he said on Sunday. Defes joined El Al's board in 2015 and became chairman in 2017. It was not immediately clear who would replace Defes, but it would probably be one of two vice chairpeople: Yehuda Levy or Tamar Mozes-Borovitz. Israel's flag carrier is fighting for survival after the COVID-19 pandemic added to its difficulties, forcing it to suspend flights and furlough most of its employees. It has reported losses for the last two years and racked up debt to renew its fleet. Last month Eli Rozenberg, a US citizen resident in Israel, offered to funnel $75m into the airline in return for a 45% stake. At the same time, El Al is in advanced negotiations for a government bailout to avoid bankruptcy following the pandemic.<br/>
