The Israeli Finance Ministry said on Thursday that the Knesset Finance Committee (parliament) approved a plan to provide a government guarantee of six billion dollars to cover war risk insurance for Israeli airlines, in reference to the war waged by Israel in the face of the "Al-Aqsa Flood" operation launched by the Palestinian resistance in Gaza against the Israeli occupation and its practices.
This guarantee framework will give Israeli airlines war risk insurance policies, thereby ensuring the continuity of air operations in Israel.
Three days ago, about 3 American and Canadian airlines suspended flights to Israel as Tel Aviv declared a state of war, and these companies evacuated their employees from there as events escalated.
Several airlines said they had suspended flights to Tel Aviv following the launch of the military operation Al-Aqsa Flood against Israel.
Airlines including United Airlines, Delta Air Lines and American Airlines said they suspended direct flights following a similar action by Air France, which suspended flights until further notice, pending "an improvement in conditions before resuming service."
Sale of bonds
Earlier in the day, the Israel Bond Group said in a statement that Israel had raised $200 million in expatriate bonds since the war on Hamas began.
The group, the government's tool for expatriate bonds, said U.S. state and local governments bought $150 million in bonds.
Group chairman Danny Naveh said in a statement: "The response in many U.S. states was immediate, and demand exceeded the amount of Israeli bonds we were able to sell at the time."
Economic losses
According to a report published today by the Israeli economic website "Globes", the war in the Gaza Strip is bringing Israel closer to a sharp economic slowdown.
The current war has prompted the closure of key sectors of the economy, the withdrawal of a market workforce to the military, the closure of schools and educational institutions, and the suspension of the hospitality industry.
This was accompanied by the decline in the prices of shares and bonds, the closure of many companies, the decline in the shekel and the decline of the Tel Aviv Stock Exchange over the past days.
At dawn last Saturday, the Palestinian resistance, led by the Qassam Brigades, launched Operation Al-Aqsa Flood in response to the continuous attacks by the Israeli occupation forces and settlers against Al-Aqsa Mosque and the Palestinian people and their property.
On the other hand, the occupation army launched Operation Iron Swords, and continues to launch intensive raids for the fifth consecutive day on many areas in the Gaza Strip, killing hundreds of children, the elderly and women.
The report predicted that Israel will see a decline in growth, as "private consumption activity will weaken as the war continues, and government deficits will widen due to higher spending and lower incomes."