Israel's national carrier El Al is set to be nationalized.

 The board of directors of the financially troubled Israeli flag carrier has agreed to accept the Ministry of Finance plan by which it will receive a 75% guarantee from the State for a $250 million loan and it will hold a $150 million offering on the Tel Aviv Stock Exchange (TASE).

Chen Herzog , a partner and chief economist at BDO Consulting, is advising El Al on the process.He spoke with KAN's Mark Weiss.