BREAKING NEWS

El Al extends unpaid leave of thousands of workers until July 31

JUNE 8, 2020 17:55

El Al has extended the unpaid leave of thousands of employees by a further month, the airline informed the Tel Aviv Stock Exchange on Monday.

About 5,800 employees of El Al and its subsidiaries are currently on unpaid leave until July 31. On Sunday, the national flagcarrier said it would continue to ground all scheduled flights until June 30, with the exception of cargo flights and one-off services.

The airline is currently considering a revised bail out offer proposed by the Finance Ministry on Sunday, including a $250 million loan and a $150m. share offering.

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