El Al expresses doubt over going concern status due to uncertainty regarding assistance

    El Al expressed doubt about the continued existence of the carrier as a going concern due to uncertainty regarding assistance required to allow El Al to cope with the impact of the coronavirus crisis (Globes/The Times of Israel/Reuters, 14-May-2020). El Al CEO Gonen Usishkin said the carrier implemented operational and financial measures to reduce costs, suspended scheduled passenger services, deployed passenger and cargo aircraft on cargo services and prepared a streamlining plan that will allow El Al to operate in the coming years and return to profitability. Mr Usishkin added the steps are insufficient without the support of Israel‘s Government.