Shea Levin — text status

Arkia's owners have put a planned capital injection on hold, reversing a move that would have diluted employees' shares in the struggling Israeli airline. Following Sunday's board decision, worker representatives decided not to declare a labor dispute at this stage. The Nakash brothers, who own 80% of Arkia, had warned the company could face insolvency without new money, with losses this year estimated at over $30 million. The airline is now expected to examine other financing options, and has drawn interest from buyers including Israir owner Rami Levy.