Tag Archives | FIMI

EL AL – if at first you don’t succeed…

As expected, EL AL has failed to create the basis for a much-needed money injection. Negotiations with a potential investor were cancelled last week. First Israel Mezzanine Investors Fund (FIMI) cancelled its planned $75 million investment in the airline after its management failed to reach an collective labour contract with employees of all the airline’s sectors. […]

Continue Reading

Israeli airlines are not ready for the new reality

The Israeli airlines that opposed the signing of the open skies agreement between the EU and Israel are not ready for the new reality this agreement creates – this fact was known to all the involved parties during the negotiations that preceded the signing. The biggest problem is faced by EL AL – the largest […]

Continue Reading

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 […]

Continue Reading

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, […]

Continue Reading