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El Al suspends all flights

July 01, 2020
2 min read
El Al suspends all flights
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El Al's troubles continue, and it's increasingly unclear if the Israeli airline is going to survive the coronavirus pandemic.

The carrier had already all but suspended service through the end of July, but it still planned to operate a few special passenger and cargo flights this month.

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However, Israeli media reported July 1 that talks between the airline's management and its pilots unions had stalled, leading the company's executives to recall all airplanes to their bases.

El Al slashed much of its workforce and took other drastic measures to stay afloat amid the coronavirus demand slump, but the airline's financial situation remains precarious.

Related: These airlines have stopped offering first class due to the pandemic.

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"The company cannot continue to hemorrhage," Avi Edri, chairperson of the transport workers union at the General Federation of Labor in Israel told Globes. "The company has an obligation to minimize damage to itself, and as part of that, to its employees. So on the one hand it's tough to see activity being reduced, but on the other, if the airline is losing money, it's better to halt activity and wait for better times."

Read more: How far can airborne COVID germs really spread on a plane?

El Al has been in talks with the Israeli government for a bailout, but it still needs its employees and unions to agree to whatever deal is ultimately reached.

The news comes just one day after AeroMexico asked for bankruptcy protection in a U.S. courtroom. Aeromexico is the third Delta Air Lines partner to restructure, following Virgin Australia and LATAM.

Related: More than half of global airlines could ‘die’ without aid

Additional reporting by Edward Russell.

Featured image by Alberto Riva

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TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
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  • Annual Fee

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    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
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Why We Chose It

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more