El Al

El Al Airlines announced Wednesday the extension of the temporary cessation of its flights until June 20, 2020.

The company intends to continue to hold cargo flights to and from Israel, including the use of passenger aircraft for this purpose and to maintain passenger flights in a limited format as required.

El Al's decision to postpone the date for renewal of its flights was based on the government's decision to extend the isolation obligation for passengers entering Israel and the government's decision to extend the ban on foreigners entering Israel, and in light of the low demand for passenger flights.

El Al is currently in discussions with banks about obtaining a $400 million state guarantee loan at a rate of 82.5%. As a result of the coronavirus crisis, 90% of the airline's employees have been placed on unpaid leave or let go.

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