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El Al accepts $400m bailout, with airline likely to be nationalized
Struggling carrier El Al could be flying back into state hands, as the company’s board accepted a government bailout Monday that would likely give the state some 61 percent of the firm. Under the deal, the airline will get a $250 million government-backed loan, with guarantees for 75% of the loan, in case the firm defaults. (www.timesofisrael.com) Más...
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I actually thought it was already government owned. Ditto the comments by patrick.
EL AL is a necessary to Israel as is the water company, the power company: secure travel and conduit for tourism. So what if it is nationalized? What could replace it, the security structures for passenger safety that are required for this airline to exist safely?
Saw this one coming.
