The Israeli scheduled domestic, regional and charter carrier is shortly expected to take delivery its first ATR72-500 (reg 4X-ATH, serial 0931). The aircraft is the first of two ordered in February 2011. Both aircraft (the second is believed to be serial 0962) were originally ordered, but not taken up, by Syrianair. Both aircraft are expected to enter service before the end of 2011. Israir is currently the subject of takeover speculation after flag-carrier El Al Israel Airlines was reported to be in preliminary talks to acquire the carrier from owner, IDB Tourism. Israir could be a good fit for El Al, whose charter arm, Sun D'Or International Airlines was closed down by the Israeli Civil Aviation Authority on 1 April 2011. The deal could also improve IDB Tourism's financial position, as Israir's operating losses in the period 2007-2010 total over $87 million. One report valued Israir as $38 million at the end of 2010. Approval of any proposed deal by Israel's Antitrust Authority would be required, and could not be seen as automatic, given the small number of companies that make up Israel's airline sector.
Thu, Jun 30 2011 9:13 AM
| Report Abuse