Israel’s Airlines Face Mass Layoffs, Bankruptcy

Israeli airlines are facing new waves of mass layoffs and potential collapse as the global aviation market continues to be pummeled by the COVID-19 pandemic, the Jerusalem Post reported. With long lists of travel restrictions and dashed dreams for summer tourism due to the emergence of the delta variant, millions around the world are in immediate danger of losing their jobs. According to Professor Yaniv Poria, a tourism expert from Ben-Gurion University’s Hotel and Tourism Management Department and academic director of its Eilat Campus, the travel sector has changed forever as a result of the coronavirus. Poria estimates that airlines globally will be forced to significantly downsize and fire between 50% and 70% of their employees in the coming months. They will then have to engage in hiring sprees and bring on board workers temporarily in between pandemic waves and during the traditional peak tourism summer months. The crisis has hit Israeli airlines particularly hard. The Histadrut workers’ union formally declared a labor dispute and said that airport workers, as well as those employed by Israeli airlines, could go on strike come September 6 if the Finance Ministry does not agree to compensate workers that have been laid off. Read more.
Location