El Al sells share of Sabre joint venture

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Israeli flag-carrier El Al is to sell its 49% stake in local reservations joint venture Sabre Israel Travel Technologies to partner Sabre Holdings.

In a statement to the Tel Aviv stock exchange, El Al says it will "end the trade agreement" established for the company from today, and the shareholding will be

El Al says that, as a consequence of the sale, it will post a third-quarter pre-tax capital gain of $1.7 million.

Sabre and El Al have reached a new long-term deal on data distribution to travel agents.