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Israel launches economic aid plan for aircraft

For El Al Airlines and Israir

Israel has not forgotten the difficulties of its air transport. Despite the good data recorded by Tel Aviv's "Ben Gurion" airport, the Middle Eastern country still has to deal with the crisis in the sector due to the coronavirus pandemic. Yesterday, Sunday May 9, 2021, the financial aid plan in favor of air carriers was approved, as written in black and white by the local economy ministry. Wanting to be even more precise, the agreement concerned the same department and the airlines El Al Airlines and Israir. Based on what has been stipulated in the last few hours, we are talking about a financial measure that has been structured as if it were an advance payment of airline tickets on behalf of government security guards. Furthermore, the time period taken into consideration by the agreement is 20 years. The aid will be distinct, with a clear preponderance towards El Al, which will go to a support of 685 million shekels (173 million euros), while to Israir will go 52 million Israeli shekels (13 million euros to be precise) . Among other things, this package will replace a previously proposed economic scheme, specifically the one in favor of El Al which had to exploit a state guarantee for a bank loan. According to Israel Katz, finance minister, "the support is being provided because of the difficult and anomalous situation that the Israeli aviation is facing and to ensure its resilience".

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AVIONEWS - World Aeronautical Press Agency