Today: 23 August 2025
22 November 2021
1 min read

Israel launches aid program for country’s airlines

Israel’s Finance and Transport Ministries have announced an aid program for the country’s airlines, which were severely battered by the Covid-19 crisis…reports Asian Lite News

Approved by the government, the airlines will receive financial assistance against bonds convertible for stocks for a period of three years without interest, reports Xinhua news agency.

Israel launches aid program for country’s airlines

The state aid, totalling up to $44 million, will be transferred to the airlines in parallel with an equal amount capital flow by the owners.

After three years, the airlines will be entitled to choose whether to repay the bond to the state or convert the debt into shares allotted to the state.

The share of the state in the stock capital of each airline will not exceed 24 per cent.

ALSO READ: Israel reinforces security after fatal attack in East Jerusalem

In addition, the shares to be held by the state will be dormant so that it will not have the right to vote as a shareholder.

The plan joins the government’s previous support for airlines announced in May this year.

Previous Story

Cyberattack on Iran’s Mahan Airlines repelled

Next Story

Qatar World Cup unveils official countdown clock with one year to go

Latest from Arab News

MBS & Sisi talk ties, Palestine

The two leaders reviewed the historic and strategic relations between Riyadh and Cairo and explored new ways to bolster cooperation…reports Asian Lite News Saudi Crown Prince and Prime Minister HRH Mohammed bin

Qatar: Syria’s stability key to region

Qatar, speaking for the Arab Group at the UN, urged unity and sovereignty for Syria as regional diplomacy, UN warnings, and fragile ceasefires highlight a precarious crossroads….reports Asian Lite News Qatar, speaking

UAE flies out Gaza’s sick & wounded

The UAE has flown out 155 more Gaza patients and families, extending medical lifelines to nearly 2,800 evacuees, under Sheikh Mohamed’s sweeping humanitarian directive….reports Asian Lite News The United Arab Emirates has

Arab fury at Israel’s land grab

Arab League and world powers condemn Israel’s E1 settlement approval, warning it threatens a Palestinian state, breaches international law, fuels instability, and worsens Gaza’s dire humanitarian crisis….reports Asian Lite News The League

OIC calls emergency Gaza meet

The OIC prepares an emergency meeting as Israel intensifies its assault on Gaza City, calling up tens of thousands of troops, sparking global outrage and humanitarian alarm….reports Asian Lite News The Organisation
Go toTop

Don't Miss

Global Covid caseload tops 325.7 mn

Amid an ongoing resurgence across the world, the global coronavirus

Green pass mandatory to enter UAE govt buildings

MoHAP stressed that unvaccinated individuals and those with ‘grey status’