Israeli flag-carrier El Al must carry out a planned $150 million share issue by the end of August, before the country’s government will back a $250 million bank loan. The conditions have been outlined in a 22 July letter from the ministry of finance. El Al opted in early July to pursue the joint loan and share issue, after a prolonged effort to negotiate a $400 million loan package with the ministry. The airline says it has been informed “for the first time” that the state guarantee for the $250 million loan will be granted “only after” the shares are issued. El Al has previously stressed that near-term funding is critical to its future, and has yet to indicate whether the timing attached to the package will affect its operation. The airline has already extended the suspension of flights until 31 August, a decision which affects 6,100 employees. El Al says the ministry has agreed to release $10 million from a compensation fund which, at the end of June, had a surplus of 230 million shekels ($67 million).

Source: Cirium

Alaska Airlines is to join the Oneworld alliance, becoming the group's 14th member. The US carrier hopes to complete its entry into the alliance "around the end of the year". Alaska's wholly-owned subsidiary Horizon Air and regional partner SkyWest Airlines will join Oneworld as affiliate members. Joining the alliance will "improve connectivity and service for our guests throughout the West coast and beyond", says Alaska chief executive Brad Tilden. "Oneworld will open up a tremendous international network for our business and leisure travellers when they're ready to start flying overseas again, in addition to greater connectivity around the US through our network for international visitors," he adds. Alaska is "eager to build deeper ties" with the six Oneworld members it already co-operates with, these being American Airlines, British Airways, Cathay Pacific, Finnair, Japan Airlines and Qantas. The airline's addition to Oneworld will add 34 destinations to the alliance's US network.

Source: Cirium

Taiwan lawmakers have approved a proposal to rename national carrier China Airlines, paving the way for a possible rebranding. The proposal, first mooted by the ruling Democratic Progressive Party caucus, calls on the island’s transport ministry to study and propose a phased plan to “strengthen China Airlines’ international recognition,” which will also help advance Taiwan’s interests. The proposal, first raised in the Taiwanese Legislative Yuen in April, also suggests an initial livery redesign that would emphasise the Taiwan name, but not affect the carrier’s air traffic rights. The 64 lawmakers present at the sitting all voted in favour of the proposal, allowing it to be handed over to the Ministry of Transportation and Communications for implementation. No timeline on the process has been given by the lawmakers, who add that more discussions would be needed to come up with a feasible approach to a thorough rebranding. The long-simmering debate on whether to rename China Airlines was thrust back into the spotlight amid the coronavirus outbreak, when the SkyTeam carrier mounted several freighter flights to parts of the world in April, to deliver medical supplies to assist in coronavirus aid efforts. Taiwanese media reports suggested that because the airline’s name had “China” in it, it would lead to confusion as to whether these donations came from the People’s Republic of China, or Taiwan. China regards Taiwan as a breakaway province which it has vowed to retake, by force if necessary.

Source: Cirium