All El Al articles

  • El Al Boeing 787-8
    News

    Israel-UAE to talk direct flights but airspace issues remain

    2020-08-13T19:01:00Z

    Normalisation of diplomatic relations between Israel and the United Arab Emirates opens the possibility of flights between the two countries – although a timeframe has yet to emerge and other complexities remain unresolved. The UAE and Israeli governments have jointly stated that tourism and “direct flights” will be among ...

  • El Al 787
    News

    El Al seeks approval to raise capital as pilots object to cost-saving pact

    2020-07-26T19:28:00Z

    El Al has called a shareholders’ meeting for 18 August in order to seek approval to raise the company’s registered share capital. The Israeli flag-carrier is planning to raise $400 million through a $150 million share issue and a state-backed staggered $250 million loan. El Al says that, ...

  • El Al 787
    News

    El Al must issue shares before state will back loan

    2020-07-23T10:15:00Z

    Israeli flag-carrier El Al must carry out a planned $150 million share issue by the end of August, before the country’s government will back a $250 million bank loan. The conditions have been outlined in a 22 July letter from the ministry of finance. El Al opted in ...

  • El Al line-up
    News

    Investor offers $75m for 45% share in struggling El Al

    2020-07-20T18:49:00Z

    Israeli flag-carrier El Al has received an offer from an investor who is prepared to acquire a private allotment of shares worth $75 million. The offer has come from an individual which the law firm Shibolet identifies, in a 20 July letter to the airline, as businessman Eli Rozenberg. ...

  • El Al 787 header
    News

    El Al pilots absent as negotiators reach cockpit savings agreement

    2020-07-15T21:00:00Z

    Israeli trade union centre Histadrut has reached a new efficiency agreement covering flag-carrier El Al’s pilots, although the pact has been arranged without the pilots’ representatives. Histadrut states that the agreement, reached on 15 July after discussions with the transport workers’ union, will enable the carrier to save $105 ...

  • El Al
    News

    El Al faces class-action suit alleging unpaid ticket refunds

    2020-07-13T07:31:00Z

    Israeli flag-carrier El Al is facing a lawsuit over allegations that it failed to reimburse customers for cancelled flights, and did not inform the public about their right to receive a refund. The class-action suit has been brought before a district court by all passengers who were due to ...

  • El Al fin
    News

    El Al to slash workforce as part of rescue package agreements

    2020-07-08T09:34:00Z

    Israeli flag-carrier El Al is set to shed 1,700 positions across three divisions as part of a restructuring programme. The airline says it has reached new collective agreements with its maintenance and administrative sectors. Chief executive Gonen Usishkin says the arrangement is “another step on the road to ...

  • El Al 787 header
    News

    El Al could be renationalised as it opts for share issue

    2020-07-06T16:54:00Z

    Israeli flag-carrier El Al has given up pursuing a $400 million state-backed loan and opted for an alternative fundraising package which could result in the airline being renationalised. El Al’s board has chosen a $250 million bank loan, which would have a state guarantee, alongside a $150 million share ...

  • El Al 787-9
    News

    Pilot stand-off piles more pressure on El Al

    2020-07-03T19:32:00Z

    Israeli carrier El Al is putting another 400 personnel on furlough after the carrier’s pilots chose not to operate a number of the airline’s services. The airline had been operating a limited number of passenger and cargo services from Israel, although its scheduled passenger flights had been suspended until ...

  • El Al Boeing 787-8
    News

    El Al reiterates concerns over survival as losses mount

    2020-07-01T09:57:00Z

    Israeli flag-carrier El Al has reiterated that a financial support scheme is critical to the airline’s survival, as it disclosed a net first-quarter loss of nearly $140 million. El Al says financial assistance is “essential” to its being able to deal with the coronavirus crisis. At the end ...

  • El Al Boeing 787
    News

    El Al wrestles with ministry over proposed financial support

    2020-06-19T12:16:00Z

    Israeli flag-carrier El Al has put forward amendments to a proposed funding mechanism for the troubled airline, but insists the government has not rejected its basic propositions. El Al had been trying to negotiate a $400 million loan while the finance ministry had countered with an alternative, through which ...

  • El Al 787
    News

    Government offers to buy El Al shares under revised funding scheme

    2020-06-07T16:24:00Z

    Israel’s government has pledged to acquire shares in El Al if necessary, under a revised scheme to provide additional liquidity to the flag-carrier. El Al has been negotiating a $400 million loan with a state-backed guarantee, but the discussions have yet to be finalised. The Israeli finance ministry ...

  • Emirates A380s in storage
    In depth

    Middle East carriers aim to get back on track

    2020-06-04T11:13:00Z

    Much of the attention on airlines in the Middle East during the coronavirus crisis has focused on the big three Gulf operators and the struggles of Israeli carrier El Al.

  • El Al 747
    News

    Outbreak interrupts El Al 747-400 powerplant sale

    2020-05-15T10:22:00Z

    El Al is renegotiating the sale of a batch of Boeing 747-400 engines after the economic impact of the coronavirus outbreak interrupted the original agreement. The Israeli flag-carrier withdrew its 747-400 fleet from service last year. All the aircraft were fitted with Pratt Whitney PW4056 engines. ...

  • El Al 787
    News

    El Al awaiting final 787 as it cancels 737 leases

    2020-05-14T19:25:00Z

    Israeli flag-carrier El Al has yet to take delivery of its final Boeing 787, while the airline shuffles its current fleet as part of efforts to reduce cash burn. The carrier’s rejig includes cancelling a lease for two more Boeing 737-800s, it has disclosed in a newly-released full-year financial ...

  • El Al
    News

    El Al still discussing loan with carrier's survival at stake

    2020-05-14T17:26:00Z

    Israeli flag-carrier El Al has warned that the survival of the airline is uncertain as it seeks to secure urgent funding to cope with the coronavirus crisis. In its belated full-year financial statement, El Al says a loan is “essential” and that the are “significant doubts” about the continued ...

  • El Al 787
    News

    El Al in line for conditional support from government

    2020-05-11T09:01:00Z

    Israeli flag-carrier El Al has received a preliminary indication that the government is prepared to provide support to the airline but with conditions attached. El Al had been in talks over a commercial loan with state-backed guarantee, after being turned down for an assistance package from the ministry of ...

  • El Al 737-800
    News

    El Al sells three 737-800s to ease financial pressure

    2020-04-24T07:05:00Z

    Israeli flag-carrier El Al has reached a sale-and-leaseback agreement with an unidentified foreign company covering three Boeing 737-800s. The airline, which has been seeking to shore up its finances, says it signed a memorandum of understanding for the transaction on 23 April. El Al has not identified the ...

  • El Al 787
    News

    El Al in talks for bank loan backed by government

    2020-04-21T06:05:00Z

    El Al has entered discussions with an Israeli bank for a loan which would be partly backed by a state guarantee, in an effort to prop up its financial position. The Israeli flag-carrier had previously sought an assistance package from the ministry of finance but was turned down. ...

  • El Al Boeing 787
    News

    El Al bailout request rejected by Israeli finance ministry

    2020-04-07T12:44:00Z

    Israel’s finance ministry has rejected El Al’s request for state aid, prompting the airline to appeal directly to the country’s prime minister for help.