The Israeli flag carrier El Al has reported that it wants to repay the $ 45 million it received from the Israeli government during the Covid-19 pandemic to cover the costs resulting from the closure of the borders and the consequent elimination of operations.
The airline and the Israeli Ministry of Finance have indicated that the payment will be made two years ahead of schedule and that the offering of shares scheduled for the end of 2022 will be postponed to April 2023.
The advance will allow El Al to reduce state interference in its decisions and thus initiate a conversion program that will allow it to design a new network of destinations, sign aircraft leasing contracts for new aircraft and hire staff, after having fired 1,900 employees during the pandemic.
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