Today: 5 May 2025
17 January 2022
1 min read

Israel approves $100 million plan to support airlines

Israel’s three major airlines will receive $100 million from the government to deal with the Omicron crisis, the country’s Finance and Transport Ministries said in a joint statement…reports Asian Lite News

Under the plan, the Israeli government will offer El Al, Israir and Arkia airlines convertible bonds, which can be exchanged into shares, for three years without interest, at a total of $85 million, reports Xinhua news agency.

ALSO READ: Israel announce 27,167 new Covid cases

The government will also fund in advance for 20 years excess fuel and maintenance expenses related to the air defense systems installed on the planes, at a total of $15 million for all three airlines.

Israel has witnessed a surge of Covid-19 cases caused by the outbreak of the Omicron variant.

Previous Story

US, France discuss ways to promote Libya’s democratic process

Next Story

MEDIA SCAN: India elections heat up as Pakistan falls under US terror scan

Latest from Arab News

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

Abu Dhabi, Beirut Reconnect 

A key highlight of Aoun’s visit to UAE was the agreement to ease travel restrictions between the two countries — a move set to facilitate the movement of citizens and promote closer

ATM 2025 sets new standard 

The global event drew over 55,000 travel and tourism professionals from 166 countries, marking a 16% year-on-year increase in attendance and cementing Dubai’s role as a key hub for shaping the future

Iran Calls on India to Break Sanctions Barrier 

Calls grow louder from Iran’s industry leaders for India and international bodies to mediate financial and shipping barriers imposed by Western sanctions.  Top Iranian manufacturers are appealing to India and global organisations
Go toTop

Don't Miss

South Africa vows to transform energy sector

S. Africa committed to transition from coal to clean energy.

22nd global edition of World Blockchain Summit held in Dubai

The summit was held under the patronage of HH Sheikh