Israir Airlines and Tourism Ltd. does not see tourism getting back on track until March 2021 and has announced that it is furloughing 245 of its 420 employees until the end of February 2021.
Israir is the only Israeli airline that has been flying over the past month. It is the only airline flying domestic flights to Ramon airport near Eilat as well as occasional flights to Europe, according to demand and has been employing personnel to operate these flights.
Israir is taking NIS 140 million in loans from two banks to help it through the Covid-19 crisis with State guarantees for 75% of the loans. The company has already half of the loans and will soon be taking the second half.
El Al Israel Airlines Ltd. (TASE: ELAL) and Arkia, have furloughed their employees until August 31, and Arkia Airlines Ltd. has grounded its entire fleet until further notice.
Published by Globes, Israel business news - en.globes.co.il - on July 19, 2020
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