All El Al articles – Page 5
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NewsAuction offers cockpits and parts from Lufthansa and El Al 707s
Auctioneers are offering the cockpits, engines and dozens of components from two Boeing 707-420s which were previously parked for years at Berlin Tegel and Hamburg airports. The aircraft – MSN17720 and MSN18071 – were respectively delivered originally to Lufthansa in 1960 and Israel’s El Al in 1961. Both were powered ...
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NewsEl Al faces strike over policies restricting Sun D’Or Sabbath flights
Israeli carrier El Al is facing industrial action after being accused of acting in bad faith, notably over policies restricting operation of flights during the Sabbath, a weekly period of religious observance. Trade union centre Histadrut has notified the company of a labour dispute and approved strike from 18 October. ...
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NewsRoyal Air Maroc to explore codeshare with El Al
Moroccan flag-carrier Royal Air Maroc has signed a preliminary co-operation agreement with Israel’s El Al, which will explore the possibility of codeshare services. The agreement is the latest aviation manifestation of last year’s diplomatic recognition pacts between Israel and several Arab states. RAM says the memorandum of understanding with El ...
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NewsEl Al demands $100m compensation from state over damage to its business
Israeli flag-carrier El Al is demanding compensation of $100 million from the government, to offset the effect of state decisions on the airline’s operations. “It is no secret that El Al is in the deepest crisis in its history,” the carrier says, in a communication to the finance ministry, adding ...
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NewsEl Al must sell aircraft and part of frequent-flyer programme for state aid
Israeli flag-carrier El Al has been told it must sell aircraft and a substantial portion of its frequent-flyer programme as part of the government’s conditions for receiving financial aid. The ministry of finance had indicated in August that it was prepared to offer conditional support to Israeli operators. It has ...
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NewsIsraeli finance ministry outlines loan offer to support struggling airlines
Israeli flag-carrier El Al is among airlines being offered an additional line of financial support by the country’s government, following a series of discussions with the finance ministry. The ministry states that it is taking the steps given the “prolongation” of the pandemic crisis and its “consequences for Israeli airlines”. ...
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NewsIsraeli carriers face labour dispute over perceived job threat to workforce
Israeli flag-carrier El Al has prolonged, at least until the end of September, the furlough programme for personnel, as the country’s trade union centre formally declares a dispute with the aviation industry over concerns of mass lay-offs. El Al says it has 1,165 employees affected, adding that workers will be ...
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NewsEl Al keeps final 787 delivery on hold
El Al has deferred delivery of its final Boeing 787 at least until the end of this year, as it holds discussions on financing the twinjet. Delivery of the 787-8 aircraft, which would take the Israeli airline’s 787 fleet to 16, had been scheduled for March 2020 – the point ...
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NewsEl Al inspects 737 in-flight connectivity radomes for attachment cracks
US regulators are instructing de-activation and removal of specific external in-flight connectivity systems from Boeing 737-800 and -900ER jets, citing the risk that the radome and antenna could detach as a result of cracked attachment fittings. The FAA is ordering checks on the Viasat equipment installed under an Astronics Armstrong ...
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NewsEl Al continues to reduce losses but recovery track remains uncertain
Israeli flag-carrier El Al has posted a $166 million net loss for the first half of 2021, a reduction on the interim loss of $244 million last year. Operating revenues for the six months to 30 June were 28% lower, totalling $339 million, while expenditure fell by 22% to $407 ...
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NewsEl Al in talks with ministry to push back share issue
Israeli flag-carrier El Al is seeing to defer plans to raise additional capital through a share issue. The airline has been preparing to issue new shares or options to generate $105 million as part of a support scheme El Al’s share scheme was one of the conditions attached to a ...
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NewsEl Al and Etihad outline initial phase of codeshare pact
Israeli flag-carrier El Al is to commence its codeshare pact with the United Arab Emirates’ Etihad Airways on 18 July. The two airlines are implementing the co-operation following the historic agreement reached last year centred on the establishment of diplomatic ties between Israel and several Arab states. As El Al ...
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NewsEl Al to consolidate shares and raise authorised capital
Israeli flag-carrier El Al is to seek shareholder approval for a share consolidation and an increase in the company’s authorised capital. El Al is to consolidate its 2.5 billion ordinary shares in a ratio of eight-to-one, bringing the figure down to 312.5 million. The airline will reduce the nominal value ...
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NewsEl Al shareholder to take large stake in Cypriot carrier Tus Airways
El Al shareholder Knafaim Holdings has reached a preliminary agreement to acquire a 49.9% stake in the Cypriot carrier Tus Airways. Knafaim says it has signed a letter of intent covering the acquisition with US entrepreneur Kenneth Woolley, the sole shareholder of the carrier. Under the agreement Knafaim, through its ...
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NewsEl Al chair steps down after seven months in post
El Al chair David Brodet has resigned from his position at the Israeli flag-carrier, just a few months into his tenure. Brodet was nominated to the post last year during an overhaul of the El Al management team as a new controlling shareholder took over the airline in September 2020. ...
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NewsEl Al not concerned about financial impact of Gaza hostilities
Israeli flag-carrier El Al has yet to determine the financial consequences of the armed conflict which has ignited in Gaza, but believes the impact is not material at this stage. While some foreign carriers have been cancelling flights to Tel Aviv, El Al says it has continued to offer an ...
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NewsEl Al financing agreement with Israeli state clears final hurdle
Israeli flag-carrier El Al’s financing agreement with the state has entered into effect, after the final condition – a government approval on the main points of the deal – was met. Several conditions had been outlined when the agreement was detailed in March, among them approval from the boards of ...
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NewsEl Al scraps 737-800 sale-and-leaseback plan
Israeli flag-carrier El Al has dropped plans to enter a sale-and-leaseback transaction for three Boeing 737-800s with an undisclosed foreign company. El Al had stated in April last year that it signed a memorandum of understanding covering the deal for the three aircraft, all manufactured in 2009. The airline has ...
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AnalysisEl Al remains financially burdened after year of heavy losses
El Al remained in a state of balance-sheet insolvency at the end of 2020, with total liabilities exceeding its total assets by $256 million. The airline’s current assets as of 31 December 2020 had fallen to $186 million from the previous end-of-year level of $486 million. But its current liabilities ...
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NewsEl Al unveils full-year losses of more than $530m
Israeli flag-carrier El Al has revealed the extent of the pandemic’s financial damage on the airline, turning in a full-year net loss of $531 million. El Al’s pre-tax loss reached $561 million. The airline’s revenues reached just $623 million for the year to 31 December 2020, a fall of 71%, ...