Difficult year for El Al

Eli Rozenberg and the El Al team certainly have their work cut-out: El Al reported a net loss of $531 million, while revenue fell 70% year-on-year to $623 million. The Israeli flag carrier’s latest report shows cash held by the company has fallen by 70% over the past financial year to less than $70 million and that El Al was already carrying accumulated losses of $112 million for 2018 and 2019. El Al’s auditors attached “going concern” status to the financial reports, stating that the ability of the company, to meet all its financial obligations depends on events that the