Depp mentioned that El Al had entered the Corona crisis before all the other airlines, which, he said, had a $ 200 million revenue cycle.
The committee’s chairman, MK Ofer Shelah, asked: “Tourism and aviation have been significantly affected by the crisis. What puts all the factors in these industries with significant difficulty?”
A print was asked by sending what amount was presented to the Treasury, and replied: “$ 250 million plus $ 100 million and also a streamlining plan. All over the world, money flows to the airlines have already been made, and only in Israel yet.”
Nocturnal discussions were also held last night between the Ministry of Finance led by CEO Shai Babad and El Al’s management and Discount Bank CEO. The bank appears to lend some of the funding he asked for, which is a 70% state guarantee.
According to sources, the value of the aid to which El Al is directed is $ 600 million – 6 times the value of El Al today, with part of the money it will get from a bank loan and the other part it hopes to get from the state loan.
Discourse on insolvency on the part of El Al is also on the table, and according to factors, El Al is also preparing for this option.
