El Al decided not to operate commercial passenger flights for at least another two weeks

El Al decided not to operate commercial passenger flights for at least another two weeks.
El Al explains that its decision stems from the fact that the reliefs issued last night by the Ministry of Health do not include relief in respect of the isolation obligation that applies to incoming Israelis and that foreign entry is not revoked. The company notes that in light of this Ministry of Health policy and low demand for passenger flights, it has decided to extend the commercial flights cessation which was due on May 16.
El Al will continue to operate cargo flights from Israel to and including the use of passenger aircraft converted for this purpose, as well as carry out special passenger flights.
The company's management is currently negotiating with its employees a streamlining plan aimed at saving $ 300 million a year, including $ 200 million in salary expenses per year. This streamlining plan is a condition for receiving a $ 400 million state guarantee the company hopes to receive from one of the banks: Leumi Or Discount, without which there is doubt about its ability to continue to fund its operations, even in limited form.