El Al expressed doubt about the continued existence of the carrier as a going concern due to uncertainty regarding assistance required to allow El Al to cope with the impact of the coronavirus crisis (Globes/The Times of Israel/Reuters, 14-May-2020). El Al CEO Gonen Usishkin said the carrier implemented operational and financial measures to reduce costs, suspended scheduled passenger services, deployed passenger and cargo aircraft on cargo services and prepared a streamlining plan that will allow El Al to operate in the coming years and return to profitability. Mr Usishkin added the steps are insufficient without the support of Israel's Government.
El Al expresses doubt over going concern status due to uncertainty regarding assistance
15 May, 2020