Matzav reports that the Israeli Finance Ministry has turned down El Al's request for a $350 million loan to help it weather the coronavirus crisis. El Al announced that it will appeal the decision with Prime Minister Netanyahu.
Apparently, the Finance Ministry does not believe that El Al will be able to repay the loan.
El Al has sent 5,500 of its staff on unpaid leave - more than 85% of its workforce - in recent weeks.
It has also been offering much assistance to the government in the form of rescuing citizens stranded from locations across the world, and delivering shipments of vital medical supplies.