All El Al articles – Page 8
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NewsGovernment offers to buy El Al shares under revised funding scheme
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 has outlined ...
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Airline BusinessMiddle East carriers aim to get back on track
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.
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NewsOutbreak interrupts El Al 747-400 powerplant sale
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. It reached an ...
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NewsEl Al awaiting final 787 as it cancels 737 leases
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 statement. ...
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NewsEl Al still discussing loan with carrier's survival at stake
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 existence ...
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NewsEl Al in line for conditional support from government
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 finance. ...
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NewsEl Al sells three 737-800s to ease financial pressure
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 specific airframes ...
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NewsEl Al in talks for bank loan backed by government
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. While El ...
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NewsEl Al bailout request rejected by Israeli finance ministry
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.
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NewsEl Al awaits state funding decision after halting passenger flights
Israeli flag-carrier El Al has opted to suspend all remaining passenger flights, as it awaits potential government financial support. El Al says the suspension, on 26 March, will continue until 4 April. It will continue to provide rescue and repatriation services as well as freight flights, some of which will ...
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NewsEl Al puts most personnel on two months' leave
Israeli flag-carrier El Al has put 5,500 personnel on unpaid leave until the end of May, following the cuts to its network in the face of the coronavirus crisis. El Al employs some 6,350 staff overall. It has been holding talks with the Israeli ministry of finance regarding government support ...
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NewsIndustrial dispute notice heaps pressure on El Al
Israeli flag-carrier El Al is facing industrial action from its personnel towards the end of this month, heaping pressure on the airline as it battles to deal with the coronavirus impact. The airline says it received, on 12 March, formal notification of a labour dispute and possible strike from 27 ...
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NewsEl Al bracing for heavy impact from Israeli coronavirus policies
Israeli flag-carrier El Al is unable to estimate the impact of new government requirements that people returning to Israel from anywhere in the world must enter 14-day quarantine. The requirement will have a “material adverse effect” on El Al’s operations, the airline says. “But at this stage [we are] unable ...
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NewsEl Al predicts deeper financial impact from coronavirus
Israeli flag-carrier El Al is looking to take cost-saving measures after predicting a deepening financial impact on its operations from the coronavirus outbreak. El Al is forecasting a $50-70 million cut in its revenues for the first four months of this year, January-April. This includes a reduction of $40-50 million ...
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NewsEl Al to serve third London airport with Stansted link
Israeli carrier El Al is to re-open a connection to London Stansted, more than a decade after it last operated to the airport. El Al is to conduct flights to Tel Aviv using Boeing 737-800s. It will operate five-times weekly on the route from 28 June with flights initially continuing ...
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NewsAtlas Air to fly cargo for El Al
Aircraft lessor and air freight company Atlas Air Worldwide Holdings says its Atlas Air unit will be flying cargo for Israel’s flag carrier El Al beginning this month.
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NewsEl Al details Melbourne test flights
Israeli flag-carrier El Al is to operate at least three non-stop services to Melbourne over the course of April-May next year, as part of a test of ultra-long-haul operations. The airline’s reservations system reveals that it will start operating the LY87 service from Tel Aviv to the Australian city on ...
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El Al to test Melbourne route but complexity beckons
Israeli flag-carrier El Al is to test a service to the Australian city of Melbourne using Boeing 787s.
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El Al agrees to lease another three 737-800s
Israeli flag-carrier El Al has agreed to lease three more Boeing 737-800s, with the first to be delivered in December.
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El Al seals financing for first 787-8
Israeli carrier El Al has signed for the financing of its first Boeing 787-8, which is scheduled for delivery during November.