Fire 600 or forfeit aid, Israeli airline is told
Tel Aviv — El Al, Israeli's national airline, faces immediate closure unless it fires 600 of its 4,600 employees, company sources said. The airline lost $98.6 million last year and had to liquidate its capital holdings. Another deficit of government aid, El Al would not be able to pay its workers next month. But the government insists on the company's carrying out a comprehensive efficiency program before agreeing to bail out the airline.