Israel’s national carrier El Al says it is expecting to lose $140 million to $160 million in revenue from the coronavirus, Haaretz reports.
The figure covers January through April. It says it expects $80-90 million in lost revenue for the first quarter of FY20, which covers January 1 to March 31.
The number is up from an earlier estimate of $50 million in losses for the first quarter, made last month.
Israel has banned visitors from several countries and advised citizens not to travel abroad, and airlines around the globe are suffering setbacks from a decrease in travel due to the virus.
Traveling wearing protective masks are seen at the arrival hall of Ben Gurion International Airport on February 27, 2020. (Jack Guez/AFP)
The carrier has already begun laying off some 1/5th of its workforce.
Israel announced Sunday a $1.1 billion fund to help companies struggling because of the virus.
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