The management of the financially troubled airline El Al agreed after the cessation of flight operations and an initial refusal to accept the government of Israel's rescue package. This provides for a temporary re-entry of the state as a shareholder.
According to the announcement, the El-Al board passed a resolution on July 6, 2020. The State of Israel provides loan guarantees of approximately $ 250 million. State liability exists for the vast majority of the volume. Furthermore, they want to get into the airline and this through a capital increase financed by the state. If all possibilities are realized, Israel would hold 61 percent of the airline. A key condition for the rescue package is a large-scale downsizing, which is particularly controversial among the unions.