The outbreak of the omicron virus in the world and in Israel has led to a significant reduction in the aviation activity of Israeli airlines. Against this background, in recent weeks the Ministries of Finance and Transportation have been working intensively to formulate an additional outline of assistance to companies in order to enable them to overcome the crisis.
Under the outline, the state will provide companies with convertible debentures for shares, for a period of three years without interest, in an increased amount of up to $ 85 million – an increase of 41 million compared to 44 million approved in November.
In addition, the state will offer a lighter participation rate – from a ratio of 1: 1 in November to a ratio of 3: 2, ie, for every $ 3 of the state the shareholders in the companies will flow $ 2.
The other conditions approved in the November outline with regard to the convertible debentures – will remain in force.
In addition, the state is offering a 20-year advance payment for excess fuel expenses and maintenance related to the Sky Shield system, totaling $ 15 million for all airlines.