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.
Watch Docu Nation Season 2: Resilience
when you join the ToI Community
Support The Times of Israel's independent journalism and receive access to our documentary series, Docu Nation: Resilience, premiering December 12.
In this season of Docu Nation, you can stream eight outstanding Israeli documentaries with English subtitles and then join a live online discussion with the filmmakers. The selected films show how resilience, hope, and growth can emerge from crisis.
When you watch Docu Nation, you’re also supporting Israeli creators at a time when it’s increasingly difficult for them to share their work globally.
To learn more about Docu Nation: Resilience, click here.
Support ToI and get Docu Nation
Support ToI and get Docu Nation
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel eleven years ago - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Sunday, March 8, 2020
