El Al Airlines Eli Defes is stepping down immediately because of an undisclosed medical condition, the company said on Sunday. Defes joined El Al's board in 2015 and became chairman in 2017.
It was not immediately clear who would replace Defes, but it would probably be one of his two deputies, Yehuda Levy or Tamar Mozes-Borovitz.
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Israel's flag carrier is fighting for survival after the COVID-19 pandemic added to its difficulties, forcing it to suspend flights and furlough most of its employees. Last month Eli Rozenberg, a US citizen resident in Israel, offered to funnel $75 million into the airline in return for a 45% stake.
