Today: 2 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

Famine grips Gaza, WHO warns

WHO said Gaza’s population is facing acute food insecurity under the Integrated Food Security Phase Classification…reports Asian Lite News The World Health Organisation (WHO) has issued its starkest warning yet about the

Lifeline from UAE to Gaza

UAE’s Operation Chivalrous Knight 3 sustains Gaza’s collapsing health system with hospitals, treatment, aid, and vaccines, offering vital relief to thousands amid deepening crisis….reports Asian Lite News The United Arab Emirates has

More Nations Support Palestine State

UAE has hailed the intention of countries such as Malta, Canada, Australia, Andorra, Finland, Iceland, Luxembourg, New Zealand, Portugal, and San Marino to recognise Palestine….reports Asian Lite News The UAE has welcomed

Trump envoy in Israel as Gaza starves

Witkoff is expected to visit US-backed food distribution efforts in Gaza run by the Gaza Humanitarian Foundation (GHF). As the humanitarian catastrophe in Gaza worsens, US President Donald Trump’s special envoy Steve

UK PM, Oman’s Sultan agree to deepen ties

Sultan Haitham welcomes UK’s steps towards recognising Palestine, reaffirms Oman’s support for a two-state solution and lasting peace in the Middle East..reports Asian Lite News Prime Minister Keir Starmer and Oman’s Sultan
Go toTop

Don't Miss

Israeli Air Force Hits Hezbollah In Lebanon

Hezbollah, which wields considerable power in Lebanon, is designated as a

Israeli jets rain bombs on Lebanon

Israeli planes reportedly dropped 150 air-to-ground missiles in their most