El Al extends passenger flight suspension until July 31

El Al  / Photo: Yoav Yaari
El Al / Photo: Yoav Yaari

This was no major surprise after the airline announced yesterday that it was extending the unpaid leave of its employees until July 31.

El Al Israel Airlines Ltd. (TASE: ELAL) has announced that it is extending the suspension of passenger flights until July 31. This was no major surprise after the airline announced yesterday that it was extending the unpaid leave of its employees until July 31.

In its notification to the Tel Aviv Stock Exchange (TASE), El Al said that while Israel continues to bar foreigners from entering and requires Israelis returning from abroad to undergo 14 days self-isolation, it will continue its suspension of flights.

El Al is not hopeful of a resumption in August after Prime Minister Benjamin Netanyahu announced yesterday that he only plans opening Israel's borders between Greece and Cyprus on August 1, if the rate of Covid-19 infections does not climb.

90% of El Al's 6,300 employees were put on unpaid leave in March when passenger flights were first suspended. The airline is mainly operating cargo flights with occasional passenger flights, according to demand.

El Al is deep in debt and is under pressure to fire at least 2,000 employees, reduce its fleet and the number of destinations it flies to in order to receive a government bailout.

Published by Globes, Israel business news - en.globes.co.il - on June 17, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

El Al  / Photo: Yoav Yaari
El Al / Photo: Yoav Yaari
Holon employment bureau credit: Eyal Izhar Unemployment in Israel fell in January

The unemployment rate in Israel fell to 2.6% in January 2025, after seasonal adjustment, from 2.7% in December 2024, the Central Bureau of Statistics reports.

Dizengoff Center credit: Guy Hamoy Israel's economy grew 1% in 2024, above expectations

This figure reflects negative GDP per capita growth of 0.3%, because of population growth last year, the Central Bureau of Statistics reports.

Shalev Hulio and Sebastian Kutz credit: Pini Siluk and Dominic Butzmann Israeli co Dream Security raises $100m at $1.1b valuation

The company, which protects national infrastructures, was founded by former spyware company NSO Group CEO Shalev Hulio, former Austrian Chancellor Sebastian Kurz and Gil Dolev.

CyberArk CEO Matt Cohen and founder and executive chairman  Ehud Mokady  credit: PR $20b CyberArk becomes Israel's second most valuable co

The cybersecurity company's share price has almost tripled in value in the past three years.

Israel Tax Authority Head Shay Aharonovich credit: Yossi Zamir Israel Tax Authority set to publish voluntary disclosure plan

The latest procedure, delayed for over a year, will not include an anonymous track but will have a fast track for unreported cryptocurrency assets.

Tel Aviv credit: Shutterstock Meitav sees Israel housing prices falling

More Israeli households are expected to prefer renting a home rather than buying their own apartment and the consequences will be negative, Meitav investment house chief economist Alex Zabezhinsky predicts.

Sasha Troufanov credit: IDF Spokesperson Amazon CEO welcomes release of employee Sasha Troufanov

Andy Jassy said that Amazon has not commented publicly on the hostages for fear that it would negatively impact their ability to be released, or how they were treated in captivity.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Ra'anana, Netanya, Mazkeret Batya, Maalot-Tarshisha and Beersheva.

MK 84 bombs credit: Reuters IMAGO US shipment of MK-84 900 kilogram bombs arrives in Israel

One of the first steps taken by US President Donald Trump was to release the heavy deep-penetration bombs, which former President Joe Biden had halted the supply of.

Inflation credit: Tali Bogdanovsky January CPI reading lifts inflation, housing prices rise

In the twelve months to the end of January 2024, inflation has risen to 3.8%, the Central Bureau of Statistics reports.

Credit Card payment terminal credit: Seika Chujo Shutterstock Cyberattack again disrupts Israel's credit card payments

Check Point chief of staff Gil Messing: "These are the capabilities of a state actor. This does not necessarily mean Iran, but in the past Iranian entities have been behind such attacks.

CyberArk offices credit: Eyal Izhar CyberArk buys US co Zilla Security, reports strong Q4

CyberArk, which will pay $165 million for the US identity governance and administration company, has surpassed Teva to become Israel's second most valuable company.

mSphere credit: Mer Group Mer launches armored vehicle awareness protection system

mSphere's comprehensive monitoring eliminates blind spots, enhances detection capabilities, and enables crews to identify and respond to potential threats swiftly and accurately.

Mortgage taking credit: Shutterstock Steep fall in mortgage taking in Israel in January

Mortgage taking was down 50% from the preceding month but up 30% from January 2024, the Bank of Israel reports.

Shekel-dollar ASAP Creative Shekel rebounds against dollar

Bank Leumi: The possibility of further appreciation of the shekel, raises the question of whether portfolio owners with high exposure to foreign exchange have a reason to hedge their investment portfolio.

Amnon Shashua  credit: Eyal Izhar Shashua's Mentee Robotics unveils robot for manual work

MenteeBot V3.0 takes on lifting tasks that would typically be strenuous for human workers over extended periods.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018