Israir: $ 40 million loss in the first Q of 2020

A $ 40 million loss to Israir in the first quarter of 2020, according to its reports released on Tuesday, compared with $ 5 million in the same quarter last year, while having to reduce $ 30 million in equity. The group's sales in the first quarter of 2020 About $ 75 million compared to $ 81 million last year, with only a few million remaining.
Israir reports that the direct loss from the Corona crisis in the quarter reached about $ 10 million in the quarter. Cargo flights. But this week the company announced that it was bleeding and so in two weeks it will also stop flying to Eilat.
Uri Sarkis, CEO of Israir, said today that if the government does not formulate a clear outline of the return of flights abroad, it will end Israeli aviation, and expressed concern that Israir will eventually have to close. He said, "Europe has opened for flights, Rainair has already operated hundreds of flights and even in the UK have announced that they will fly from July. Unless an outline for the opening of the sky is immediately announced, it will end Israeli aviation." He also said that people "stick to Corona at supermarkets, malls, and do not close them, so why not allow flights?" Syracuse urged the government to adjust the scope of aid for the postponement of the mid-August sky opening, when that date is also in doubt.
Reports indicate that gross loss for the quarter totaled $ 1 million against $ 4.8 million last year - an erosion largely attributable to the Corona crisis and also to the closure of Sde Dov in Tel Aviv. As mentioned, the company's equity is approximately $ 30 million