All El Al articles – Page 6
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NewsEl Al persuades ministry to advance security expenses
Israeli flag-carrier El Al has been granted a degree of financial relief after the government agreed to provide advance payment to the airline for expenditure on security services. El Al says the ministry of finance has agreed to the request for advance payment of $15 million for security expenses over ...
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NewsEl Al obtains further deferral for final 787 delivery
Israeli flag-carrier El Al has obtained an agreement to extend the period for taking delivery of its final Boeing 787, pushing the date back to the end of March next year. The airline has 15 787s in its fleet and had already been granted a delivery deferral for the last ...
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NewsEl Al names Nashville energy firm director as new chief executive
Israeli flag-carrier El Al has named Avigal Soreq as its new chief executive, succeeding Gonen Usishkin who will step down at the end of January next year. Soreq is the chief operating officer of Delek US Holdings, an energy firm based just south of Nashville, Tennessee, and specialising in assets ...
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NewsEl Al survival remains in balance as losses top $400m
Israeli flag-carrier El Al has unveiled a pre-tax loss of $148 million for the third quarter alone, after revenues for the period sank by 94% to less than $40 million. El Al’s performance under the weight of the pandemic crisis brings its overall pre-tax losses for the first nine months ...
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NewsIsrael’s El Al to open Dubai flights before year-end
Israeli flag-carrier El Al is to open services to Dubai in the United Arab Emirates, the latest development between the two countries’ air services following normalisation of diplomatic relations. El Al states that it will offer 14 weekly flights to Dubai from Tel Aviv, beginning on 13 December. It will ...
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NewsIsraeli-Arab codeshare to feature in El Al-Etihad co-operation talks
Israeli flag-carrier El Al and United Arab Emirates operator Etihad Airways are to discuss closer ties which could include codesharing on their networks, as well as co-operation in maintenance and freight services. The two airlines have signed a memorandum of understanding to explore closer ties, following the normalisation of diplomatic ...
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NewsEl Al cull continues with departure of chief financial officer
Israeli flag-carrier El Al’s chief financial officer, Dganit Palti, is to step down before the end of this year. Palti’s departure will mark another high-profile change in the wake of the ownership shake-up at the carrier. El Al undertook a share issue in September, as part of a financial rescue ...
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NewsEl Al chief Usishkin to step down in January
Israeli flag-carrier El Al’s chief executive, Gonen Usishkin, is to step down from his position in January next year, three months after a board shake-up by the airline’s new controlling shareholder. Usishkin was named as the airline’s head in early 2018. He oversaw the transformation of El Al’s fleet, as ...
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NewsEl Al pilots lose legal bid to overturn cockpit efficiency agreement
Israeli flag-carrier El Al’s pilots have lost a legal bid to invalidate an efficiency agreement for cockpit crews, which was reached in mid-July in the absence of pilots’ representatives. This agreement was one of several revising terms for several groups of El Al workers. The new pacts were a condition ...
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NewsTrump lawyer and former UN ambassador proposed for El Al board
Israeli flag-carrier El Al’s shareholders are to meet in November to approve a new board of directors, including Jason Greenblatt, the former chief lawyer to US president Donald Trump. Greenblatt is one of six directors proposed for the board following the stock issue in September during which El Al underwent ...
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NewsIsraeli-Jordan airspace pact set to unlock more Middle Eastern routes
Israel’s government has expanded potential route networks with Arab states through an airspace agreement with its Jordanian counterpart. The pact, signed between civil aviation authorities on 8 October, opens the two countries’ airspace and will “significantly shorten flight times” from the Gulf states and Asia to destinations in Europe and ...
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NewsEl Al loses argument as state accepts Kanfei as main shareholder
Israeli authorities have granted investor Eli Rozenberg control of the largest shareholding in flag-carrier El Al, following the airline’s recent share issue. El Al has disclosed a communication from the Government Companies Authority giving consent of the special state shareholder of the airline to Kanfei Nesharim Aviation’s acquisition of a ...
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NewsConcerns emerge over new El Al investor’s ownership
Israeli flag-carrier El Al’s new ownership structure has already run into problems, just a week after the share offering which resulted in a change in major shareholder. The new investor, Kanfei Nesharim, took a 43% shareholding in El Al during the share offering on 16 September. It had declared at ...
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NewsState takes 14% of El Al as Knafaim is displaced as main shareholder
Israel’s government has taken a 14% shareholding in flag-carrier El Al, during a share offering which led to a change in its largest shareholder. Kanfei Nesharim Aviation has acquired a near-43% share of El Al after it picked up more than 585.6 million shares. Even at the minimum price for ...
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NewsEl Al signals intention to restart limited number of flights
Israeli carrier El Al is aiming to start restoring flights this month, beginning with a gradual resumption of cargo services on its aircraft. It says the cargo flights will begin returning on 21 September. El Al is intending to follow these flights with a restoration of passenger operations from 1 ...
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NewsEl Al details initial bids after share offer
El Al has disclosed the initial results of its share issue, through which it had intended to raise proceeds of 505 million shekels ($145 million). The issue was launched on 16 September. El Al had been offering 753.35 million shares of which the government had been lined up to take ...
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NewsGovernment clears El Al support as Israel heads for new lockdown
Israel’s government has approved the decision to provide assistance to flag-carrier El Al, adding that its share acquisition will be conducted in a manner such that the state does not exceed a 44.9% stake in the airline. El Al is planning to issue 753.3 million shares to raise urgent funding ...
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NewsArab-Israeli flight prospects broaden as Oman backs Bahraini diplomatic move
Oman’s government has welcomed the decision by Bahrain’s leadership to establish full normalisation of diplomatic relations with the state of Israel – potentially allowing a further expansion of Israeli-Arab air services. Bahrain is the second Arab nation within a month to reach such a decision, and the support of Oman ...
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NewsEl Al prepares to embark on crucial funding exercise
El Al has outlined its operational position to potential investors ahead of publishing a formal offer to acquire shares in the Israeli airline as part of a 505 million shekel ($145 million) issue. The airline is planning to commence the offering on 16 September, part of a recapitalisation which will ...
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NewsState to be inactive El Al shareholder after rights issue
Israel’s government does not intend to exercise the voting rights of shares in El Al which it plans to acquire as part of a refinancing of the troubled flag-carrier. The ministry of finance, in a 4 September communication to the carrier, has detailed its role in a share issue to ...