EL AL in advanced talks with government

El Al Airlines said it is in advanced talks with an Israeli bank to receive a loan that will be partly backed by government guarantees. The airline said it is in talks with the Finance Ministry regarding the guarantees but did not provide further details. It said that securing the loan and the government’s backing in the near term are vital for the company to be able to deal with the implications of the coronavirus outbreak, which has grounded the airline. Israel’s flag carrier has suspended all scheduled passenger flights until May 2 due to a drop in demand though