El Al is hoping to fly back to Tel Aviv tens of thousands of Israelis and Russian Jews.
El Al Israel Airlines Ltd. (TASE:ELAL) will continue operating flights to Russia until March 9 after the Knesset Finance Committee agreed to put up $2 billion surety.
The state is required to provide financial guarantees because according to the sanctions imposed on Russia by the west because of the invasion of Ukraine, insurance policies for airlines flying to Russia are not currently valid.
El Al currently operates two daily flights between Tel Aviv and Russia. El Al will reduce its Russian operations to five flights over the next week and has had to change its route so as not to fly over Ukraine, making the flight 90 minutes longer. El Al has also had to adjust the route of its flights to Los Angeles, Toronto and Shanghai.
The flights over the next week are designed to bring Israelis back to Israel as well as Russian Jews. The Knesset Finance Committee was told that there are tens of thousands of Israelis in the regions and members of the very large Jewish community wishing to come to Israel.
Aeroflot flights between Tel Aviv and Moscow are also continuing to operate.
Published by Globes, Israel business news – en.globes.co.il – on March 3, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
El Al Photo: Danny Sadeh
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