TOURISM

Israel's tourism and hotel sector will receive aid worth NIS 300 million, Minister of Finance Yisrael Katz and Minister of Tourism Asaf Zamir have announced.

The hope is that the project will breathe new life into the coronavirus-hit tourist city.

Health Ministry associate director-general Prof. Itamar Grotto: There will be flights in June for Israelis who will have to go into isolation.

In a bid to improve liquidity, El Al has sold its 25% stake in Maman, which provides cargo and logistics services to Ben Gurion airport.

"The threshold condition for obtaining a bank loan with a state guarantee is the signing of a labor agreement."

Israel is relaxing the ban on entry for non-Israeli passport holders for university and yeshiva students who want to return to Israel to complete their studies.

In the first stage, international travel will likely be permitted through bilateral agreements with countries like Cyprus, where Covid-19 morbidity was low.

The El Al cargo aircraft is the first in a series of flights that will take medical equipment from Istanbul to New York.

CEO Ronen Nissenbaum is banking on domestic tourism and says prices are 20% lower than last year.

Hotels are offering lower prices, cancellation flexibility and lots of hygiene and personal space, in efforts to tempt back guests.

Israeli civil aviation law requires carriers to refund fares for cancelled flights.

El Al chairman Eli Defes says that time is running out to save the airline, which seeks a $200-300 million state guaranteed loan.

After the crisis ends, air fares will inevitably return to the high levels of many years ago.

As Israel shuts the door on Europe, many expect the US will be next, with Covid-19 spreading across North America.

The Israel Hotel Association wants the government to regulate the sector and will ask the court to force the Tax Authority to crack down on landlords.

The Tel Aviv Stock Exchange is the airline's platform for raising capital or debt to cope with a difficult business situation, argues Yaniv Pagot.

Low-cost competition was causing the Israeli carrier turbulence well before the East Asian virus but falling fuel prices may ease the pain.

As more and more disabled people travel, accessibility will become very good business. Israel is well positioned to take its share.