Jerusalem, Jan 17 (IANS) 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.
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.
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.
--IANS
ksk/
Copyright and Disclaimer: All news and images appearing in our news section, search engines and social media are provided by IANS. If you face any issues related to the content/images, please contact our news service provider directly. We are not liable/responsible for any content/images related to the news service provider.
|