From Globes today : http://www.globes.co.il/en/article-el-al-dispute-with-pilots-escalates-1001161464
What about compensation?
The frustrated passengers can take comfort in the Aviation Services Law (Compensation and Assistance for Flight Cancellations and Changes in Conditions) - 2012, which sets compensation for cancellation of a flight under certain conditions (for example, in case of an organized strike, the airline is not legally obligated to compensate passengers).
Advocates Vered Cohen and Raanan Bar-On explain that unavailability of pilots is not classed as a reason exempting the airline from providing monetary compensation. The law stipulates compensation in the NIS 1,290-3,080 range, in addition to giving back the money the passengers paid for their tickets. Compensation is determined by the flight distance.
At the same time, Cohen and Bar-On made it clear that the airline is exempt from providing this compensation in cases in which the passengers reach compensation agreements with the airline, for example, if a passenger agrees to accept a free ticket (in addition to reimbursement for the original ticket). The same is true in a case in which the passenger was notified of the expected cancellation, and was offered an alternative flight close to the original flight (from one hour in advance of the takeoff time to two hours after the original landing time).