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El Al issuing vouchers for cancelled flights

According to a report published in Globes, the El Al airline company has begun offering vouchers to customers who purchased tickets for flights that were subsequently cancelled due to the coronavirus pandemic.

El Al owes passengers around NIS 1 billion [0.29 billion USD] for cancelled flights. Ordinarily, the company would have to provide a full refund with 21 days of the cancellation, but due to El Al’s financial woes, the Knesset Economics Committee has repeatedly extended the deadline for repayment.

However, El Al has now raised $150 million on the Tel Aviv Stock Exchange and the Committee has announced that the deadline for repayments will not be extended beyond October 1.

Accordingly, El Al came up with a creative way of avoiding having to repay the entire sum in one go – it has begun offering vouchers worth 125% of the cancelled flight to passengers, which can be used until the end of 2021 for flights departing until November 2022.

Even if the vouchers are not used by then, the passenger will remain entitled to a 100% refund of the original ticket price.

Source: Arutz Sheva