Tag Archives | EL AL

Time running out for EL AL investment plan

Time is running out for Israeli airline EL AL. While there is no real progress in the negotiations with the airline’s workers unions, potential investors are showing signs of impatience. First Israel Mezzanine Investors Fund (FIMI) has given EL AL Israel Airlines extra time to reach an agreement with its employees. This agreement, which according […]

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Union negotiations are crucial stage for EL AL

These are crucial days for Israeli airline EL AL. The management is negotiating a new agreement with the workers’ union.  The new agreement has one major role – reducing the number of employees significantly, cutting $22.5 million from the annual payroll. The agreement will open the way for a restructuring of the shareholders and that, […]

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Missile defence system launched in unpredictable market

It’s, without any doubt, an historic event. The question is whether it will have wide or very limited effects. Thirteen years after terrorists launched SA-7 shoulder-launched missiles at an Israeli 757 in Kenya, missing their target, the first countermeasures system has been installed on an Israeli passenger aircraft. The process was slow. Technology and bureaucracy […]

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Israeli airlines must be smart and benefit from Open Skies deal

The approach taken by Israeli airlines towards the Open Skies agreement with Europe was a big mistake.  The agreement was signed in Luxembourg a few days ago and now the implementation begins.  The big question is whether the three Israeli airlines – EL AL, Arkia and Israir – will whine every time a European airline […]

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El Al offers poor defence of first-quarter results

When a company makes silly mistakes it sometimes uses silly excuses for its losses. That’s exactly what Israeli airline El Al did on Monday. The poor first-quarter 2013 results were followed by excuses. Blaming the results on the effects of the Pillar of Defense military operation in Gaza last November is a bad joke. With […]

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High-altitude double (bed) mistake

Take the inability of the Israeli government to take some decisions, add the lack of sensitivity of prime minister Benjamin Netanyahu – and the harsh new steps taken only last week to fill the hole in the country’s budget – and you get a scandal that rocked the countryThis is exactly what happened when Netanyahu […]

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The strike is over, the agreement is in effect – now reality bites

The Israeli airlines that went on strike on Sunday after the Open Skies agreement with the EU was ratified used a very ‘rusty ladder’ to climb down from their high horse.This was the most unjustified strike in the history of Israeli aviation. It left thousands of passengers of EL AL, Arkia and Israir stranded in […]

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Israel-EU Open Skies Agreement approved but passengers left stranded

The prospect of a government not fulfilling a signed agreement tipped the scale. The Israeli cabinet ratified the Open Skies Agreement with the EU on Sunday. A few hours prior to the cabinet vote, workers from three Israeli airlines – El Al, Arkia and Israir Airlines – began a strike and thousands of passengers were […]

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A long, bumpy flight – EL AL and the new investors

Many question marks hover over the deal aimed at changing the way Israeli airline EL AL is managed. This change has been needed for some time, but the current shareholders couldn’t even start the process.  Now there is a chance that this change will happen – but the celebration will have to wait. First Israel […]

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EL AL – a shares purchase will not be enough

The injection of cash into the accounts of Israeli airline EL AL is an important step, but it will have to be followed by others to have a long term effect. The Israeli FIMI fund is in advanced negotiations to join the controlling core of EL AL, together with the Borovich family, and inject up […]

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