Saturday, August 13, 2022
198 Brazil News
No Result
View All Result
  • Home
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • BRAZIL USA TRADE NEWS
    • BRAZIL INDIA NEWS
    • BRAZIL NIGERIA NEWS
    • BRAZIL UK NEWS
    • BRAZIL EU NEWS
    • BRAZIL RUSSIA NEWS
    • BRAZIL AFRICA NEWS
    • BRAZIL GULF NATIONS NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • BRAZIL CEO NETWORKS
    • BRAZIL CRYPTO NEWS
    • BRAZIL IMMIGRATION NEWS
    • BRAZIL TECHNOLOGY NEWS
    • BRAZIL MANUFACTURERS
    • BRAZIL JOINT VENTURE NEWS
    • BRAZIL AGRICULTURE NEWS
    • BRAZIL UNIVERSITIES
    • BRAZIL VENTURE CAPITAL NEWS
    • BRAZIL PARTNERSHIP NEWS
    • BRAZIL BUSINESS HELP
    • BRAZIL EDUCATION NEWS
  • ASK IKE LEMUWA
  • Contact us
  • Home
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • BRAZIL USA TRADE NEWS
    • BRAZIL INDIA NEWS
    • BRAZIL NIGERIA NEWS
    • BRAZIL UK NEWS
    • BRAZIL EU NEWS
    • BRAZIL RUSSIA NEWS
    • BRAZIL AFRICA NEWS
    • BRAZIL GULF NATIONS NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • BRAZIL CEO NETWORKS
    • BRAZIL CRYPTO NEWS
    • BRAZIL IMMIGRATION NEWS
    • BRAZIL TECHNOLOGY NEWS
    • BRAZIL MANUFACTURERS
    • BRAZIL JOINT VENTURE NEWS
    • BRAZIL AGRICULTURE NEWS
    • BRAZIL UNIVERSITIES
    • BRAZIL VENTURE CAPITAL NEWS
    • BRAZIL PARTNERSHIP NEWS
    • BRAZIL BUSINESS HELP
    • BRAZIL EDUCATION NEWS
  • ASK IKE LEMUWA
  • Contact us
No Result
View All Result
198 Brazil News
No Result
View All Result
Home BUSINESS NEWS FROM AROUND THE WORLD

El Al plans 1,500 more layoffs, selling 16 planes

by Gias
September 22, 2021
in BUSINESS NEWS FROM AROUND THE WORLD
2 min read
0
Share on FacebookShare on Twitter

[ad_1]

The administration of El Al Israel Airways Ltd. (TASE: ELAL) has introduced drastic adjustments designed to deal with the monetary disaster attributable to the continuing Covid pandemic. Administration desires to promote 16 planes and lay-off 1,500 workers.

El Al presently has a fleet of 45 planes and administration wish to see the fleet shrink to 29 plane. As a part of this streamlining, El Al will reportedly stress the North American market and halt flights on some routes between Israel and Europe, leaving it with its core locations in Europe. In consequence, many of the planes that shall be bought will seemingly be the narrower bodied Boeing 737s.

Along with decreasing its fleet and routes to Europe, El Al is looking for to put off an extra 1,500 workers. The airline presently has 4,000 workers, together with 1,400 workers on unpaid depart till October 31, and after shedding 2,000 workers over the previous yr.

El Al’s administration has been holding turbulent talks with the employees committee and the Histadrut on the deliberate cutbacks. There was an particularly stormy assembly previously few days, through which the proposed layoffs have been first introduced. The staff insisted that any unilateral motion taken by El Al’s administration on this matter would result in sanctions and disruptions.

El Al’s workers already declared a piece dispute a while in the past, permitting them to take quick motion, in the event that they so resolve. Histadrut transport staff committee chairman Avi Edri mentioned, “The ink shouldn’t be dry on the settlement to half with about 2,000 El Al workers. We ended with the firing of tenured workers at El Al and we’re asking the Israeli authorities to get off the fence and introduce versatile paid depart for the aviation sector. We imagine that the aviation sector will stabilize quickly and most of El Al’s workers will turn into extra needed for the corporate.”

El Al mentioned, “We don’t conduct work relations by means of media organizations.”

El Al is predicted to reply positively to the Ministry of Finance’s supply of $50 million in support, which was contingent on promoting a considerable a part of the airline’s fleet. The $50 million grant on supply to El Al could be within the type of an unlinked bond convertible to shares, with out ensures and with out curiosity. El Al might both repay the cash or the federal government would robotically improve its stake within the airline from 15% immediately to 24%, by changing the mortgage to shares.

Below the phrases of this plan, controlling shareholder Kenny Rozenberg could be required to inject an extra $43 million into the corporate, as a part of a $105 million public providing of shares. Rozenberg has already invested $160 million in El Al (for a 42.85% stake), which presently has a market cap of NIS 820 million. El Al just lately acquired $210 million from the state for tickets for safety workers for the subsequent 20 years.

Printed by Globes, Israel enterprise information – en.globes.co.il – on September 20, 2021

Copyright of Globes Writer Itonut (1983) Ltd. 2021


[ad_2]

Source link

Tags: layoffsplanesplansselling
Previous Post

US to lift Covid travel ban for vaccinated passengers from UK and most of EU | US immigration

Next Post

Biggest ever wealth drops from man who lost $75bn to bankrupt billionaire

Related Posts

BUSINESS NEWS FROM AROUND THE WORLD

Cleveland-Cliffs CEO counting on boost from North American auto production (NYSE:CLF)

by Gias
July 23, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Liz Truss vows to review all EU law on British statute

by Gias
July 23, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Apple among the names reporting next week that typically beat on earnings, boosting shares

by Gias
July 22, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Ministry encourages women’s role in tourism, creative economy sectors

by Gias
July 22, 2022
BUSINESS NEWS FROM AROUND THE WORLD

London takes world’s number 1 spot as global hub for remote workers

by Gias
July 22, 2022
Next Post

Biggest ever wealth drops from man who lost $75bn to bankrupt billionaire

NASA evaluating private space station proposals for ISS replacement

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2021 198 Brazil News.
All Rights Reserved.

No Result
View All Result
  • Home
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • BRAZIL USA TRADE NEWS
    • BRAZIL INDIA NEWS
    • BRAZIL NIGERIA NEWS
    • BRAZIL UK NEWS
    • BRAZIL EU NEWS
    • BRAZIL RUSSIA NEWS
    • BRAZIL AFRICA NEWS
    • BRAZIL GULF NATIONS NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • BRAZIL CEO NETWORKS
    • BRAZIL CRYPTO NEWS
    • BRAZIL IMMIGRATION NEWS
    • BRAZIL TECHNOLOGY NEWS
    • BRAZIL MANUFACTURERS
    • BRAZIL JOINT VENTURE NEWS
    • BRAZIL AGRICULTURE NEWS
    • BRAZIL UNIVERSITIES
    • BRAZIL VENTURE CAPITAL NEWS
    • BRAZIL PARTNERSHIP NEWS
    • BRAZIL BUSINESS HELP
    • BRAZIL EDUCATION NEWS
  • ASK IKE LEMUWA
  • Contact us

Copyright © 2021 198 Brazil News.
All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In