“It’s a catastrophe,” an El Al official told Kan News, “The airlines here will collapse within weeks”

El Al Warns It Will Imminently Collapse; Plans To Fire 1,000 People Due To Coronavirus Losses
February 27, 2020

Israel became the first country on Wednesday to advise its citizens to halt all unnecessary travel abroad in light of the recent alarming spread of the coronavirus in countries outside China, including South Korea, Italy, Germany and other European countries and the first case diagnosed in Latin America in Brazil. Following the Health Ministry’s announcement, El Al airline stated that Israel’s unprecedented warnings and restrictions against travel due to the coronavirus – stricter than any other country – will bring it and other Israeli airlines to financial collapseEl Al sustained damage of $50 million (NIS 200 million) from the coronavirus even before the Health Ministry announcement. READ MORE

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