Government to bail out El Al, though harsh cuts in order

(JNS)—The Israeli government plans to bail out national airline carrier El Al, granting loan guarantees for 80 percent of a $400 million loan.

It was agreed on Sunday evening at a meeting at the Finance Ministry that the loan would be dependent on a range of demands, the Israeli business daily Globes reported.

El Al airlines has suffered since the onset of the coronavirus outbreak and the cancellation of passenger flights.

The government is requiring the airline to make cuts beyond those already presented, including the firing of...