El Al Airlines has requested that Israel’s Finance Ministry transfer its promised aid as outlined in the government bailout plan, and also requested an increased state loan guarantee of $400 million, Globes reported. New El Al owner Eli Rozenberg acquired 42.89% of El Al with a $150 million offering at the company’s public offering in September, and according to the bailout plan, El Al is to obtain a $250 million bank loan, with a state guarantee for 75% of the loan. The reason for El Al’s request for increased aid is that it hasn’t thus far managed to obtain a bank loan. However, the Finance Ministry turned down its request, instead demanding that El Al streamline its operations and workforce.
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