All El Al articles – Page 3
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NewsOmani government to permit Israeli overflights: ministry
Oman has become the latest Middle Eastern state to allow transit of Israeli aircraft, a decision which will enable a reduction in flight times for carriers operating Asian routes to and from Tel Aviv. The opening of Omani airspace follows several months of discussions between the two sides, and comes ...
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NewsEl Al finance chief stepping down after two years
Israeli flag-carrier El Al’s chief financial officer, Yitzhak Eliav, is to step down from his position by the end of the first quarter of 2023. Eliav was named as the head of the airline’s finances in January last year. He formerly held senior executive positions at fabric specialist Avgol Industries ...
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Airline BusinessAirline Business performance tracker: rest of world Q3 2022
Key data from the most-recent earnings period – the fourth quarter of 2022 – and the equivalent periods stretching back to the last pre-Covid year, powered by Airline Business Insight
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NewsEl Al offers to take additional 787-9 originally built for another customer
Israeli flag-carrier El Al has formally put forward an offer to purchase another Boeing 787-9, an aircraft which was originally manufactured for another customer. The airline has 15 787s in its fleet and already intends to take another – a delivery deferred during the pandemic – to complete its original ...
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NewsEl Al’s main shareholder looks to swap debt for equity
Israeli flag-carrier El Al’s primary shareholder is seeking to conduct a debt-for-equity swap involving a loan to the airline. Kanfei Nesharim holds 39% of the El Al share capital – and 54% on a fully-diluted basis – according to the company’s third-quarter financial statement. El Al says its board of ...
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NewsEl Al to bring in freighter next year and signals plans to renew narrowbodies
Israeli flag-carrier El Al is pressing ahead with plans to introduce a dedicated freighter, indicating that the aircraft will arrive in the second quarter of next year. It has not identified the type but indicates that it will be a narrowbody aircraft in its latest fleet plan, outlined in the ...
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NewsEl Al turns in third-quarter profit as revenues near pre-crisis level
Israeli flag-carrier El Al has turned in further evidence of a recovery trend in its operations, with a third-quarter pre-tax profit of $68 million. It states that the business is benefiting not only from the summer season but also the lifting of travel restrictions and compulsory masking, and the cancellation ...
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NewsIsrael’s El Al repays $45m state loan
Israeli flag-carrier El Al has repaid a state loan of $45 million advanced to the carrier as part of a financial support package. The airline, which had indicated in September that it would be repaying the loan two years ahead of schedule, says the transaction was completed on 2 November. ...
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NewsAACO chief: Future Israeli ties possible if momentum for peace reaches regional level
Arab Air Carriers Organization secretary general Abdul Wahab Teffaha is not ruling out possible future ties with Israeli entities, if the recent momentum of improved Arab-Israeli relationships eventually leads to recognition at a higher regional level. Normalised diplomatic relations between Israel and a number of Arab countries have been achieved ...
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NewsEl Al considers acquiring freighter as regulator prepares to amend licence
Israeli flag-carrier El Al is considering acquiring a dedicated freighter, after the country’s civil aviation regulator notified the airline that its dormant authorisation to operate freighters will be cancelled. The amendment to El Al’s commercial licence will take effect from 17 October. El Al says it received the notification on ...
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NewsInsurance firm Phoenix takes near-20% share of El Al loyalty programme
Israeli insurance firm Phoenix is taking a near-20% shareholding in flag-carrier El Al’s loyalty programme. Phoenix is exercising an option to acquire the 19.9% stake as part of a financing transaction sealed earlier this year. Under the agreement it is able to purchase up to 25% of the loyalty scheme, ...
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NewsEl Al to repay government loan by year-end under revised aid pact
Israeli flag-carrier El Al has reached a new agreement with the government under which it will advance repayment of $45 million in support loans granted by the state. The repayment, brought forward by two years, will be carried out by 20 December. El Al says the new pact means most ...
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NewsEl Al seals efficiency pact with maintenance and engineering personnel
Israeli flag-carrier El Al has reached an agreement with its maintenance and engineering personnel as part of its efforts to tighten the airline’s efficiency. El Al says the pact, signed on 16 August, will run until the end of 2026. It will cover El Al’s plans to introduce wet-leased passenger ...
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NewsEl Al to consider wet-leases and more 787s to address capacity shortfall
Israeli flag-carrier El Al is to explore the possibility of additional Boeing 787s from the second half of next year, once it completes introduction of its current fleet. The airline has 15 of the type – comprising 12 787-9s and three 787-8s – and it is expecting to receive one ...
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NewsEl Al works to restore activity levels as recovery gains traction
Israeli carrier El Al made a pre-tax loss of $90 million for the first half of the year, although a tax gain pushed the airline into a net profit of $34 million. The airline generated revenues of nearly $799 million over the six months to 30 June. El Al says ...
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NewsSaudi Arabia opens airspace to all civil airlines including Israeli carriers
Saudi Arabian authorities have chosen to open the kingdom’s airspace to all civil carriers, including operators conducting services to and from Israel. The decision is a crucial step forward in the efforts to broaden Israeli-Arab links following the signing of the Abraham Accords in 2020. This agreement resulted in normalisation ...
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NewsEl Al resolves pilot dispute with new operations and salary pact
Israeli flag-carrier El Al has reached an agreement with its pilots aimed at settling a dispute over salaries which has caused disruption to the airline’s operations for several weeks. El Al says the agreement – signed by its pilot committee as well as the trade union centre Histadrut – will ...
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NewsEl Al strives to settle labour dispute with cockpit crews
Israeli flag-carrier El Al is continuing negotiations with cockpit crew representatives in a bid to resolve a persistent dispute ahead of a labour court hearing. The dispute – focused on pay claims and working conditions – has led to disruptions in the airline’s schedule over the past couple of months ...
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NewsEl Al to continue Arkia merger talks despite exclusivity period ending
Israeli flag-carrier El Al aims to continue negotiating with leisure airline Arkia regarding a proposed acquisition, but the exclusivity period for the talks is not being extended. El Al entered talks with its fellow Israeli carrier last year with a view to purchasing the entire share capital of Arkia and ...
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NewsEl Al formally signs for $130m loan against its loyalty programme
Israeli flag-carrier El Al has signed a formal agreement for the sale of its frequent-flyer scheme, valued at $500 million, in order to provide additional liquidity to the airline. The scheme and its assets are being sold to a subsidiary of the carrier, El Al Matmid Frequent Flyer. El Al ...