The Knesset is preparing to extend $5 billion in wartime insurance guarantees to Israeli airlines, which enables carriers El Al, Arkia and Israir to continue repatriating Israelis from abroad amid widespread international flight cancelations to Israel.
The Knesset Finance Committee will discuss the wartime insurance guarantee on Thursday morning, according to a spokesperson for the committee.
Without the state-backed guarantee, Israeli carriers could lose their coverage within seven days of the outbreak of war, in line with the terms of their policy with Inbal Insurance Company Ltd.
As it would require a formal budgetary allocation, the Finance Committee must approve the $5 billion guarantee, which would cover Inbal’s obligations and costs tied to the provision of war risk insurance.
The Hamas terror organization has deliberately directed rocket barrages toward Ben Gurion International Airport, and most international carriers have suspended service to Israel.
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From the Liveblog of
Tuesday, October 10, 2023
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