After intensive negotiations: The Ministry of Finance and El Al Airlines agreed on an outline for additional assistance. The outline will include an inflow of tens of millions of dollars in the coming period from the controlling shareholders of the company and the state, and it will allow the company to overcome the crisis in the coming months.
After intensive negotiations that have taken place in recent weeks between El-Al’s management and the professional staff in the Ministries of Finance and Transportation, the parties reached an understanding in principle on an additional aid plan against the background of the crisis caused by the outbreak of the Omicron variant.
The outline will include an inflow of tens of millions of dollars in the coming period to come from the controlling shareholders of the company and the state, and it will allow the company to get through the crisis in the coming months.
At the same time, the state also maintains contacts with other Israeli airlines, which will be offered an outline of the same principles on the basis of equal criteria.
Finance Minister Avigdor Lieberman: “We promised not to leave Israeli aviation behind – and we did. The new outline will allow companies to overcome the crisis while maintaining the principle that state aid will be provided while injecting external capital into the company that will strengthen their capital structure. I thank the Minister of Transport, Merav Michaeli. “For full cooperation in promoting the aid outline and support along the way. Finally, I will emphasize that the best assistance the state can provide to airlines is to allow them to fly with minimum restrictions and I hope that in the coming month we will open the skies to entrants and departures.”