El Al to request export credit guarantees for 737-900ER deliveries

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Israeli flag-carrier El Al will request on 5 February US Export-Import Bank financing guarantees to cover its Boeing 737-900ER deliveries, according to the export credit agency.

The airline will receive two 737-900ERs in October and December, Flightglobal's Ascend Online database shows.

Separately, El Al is negotiating with Tel Aviv-based investment firm FIMI over a potential injection of up to $60 million, through which FIMI would acquire a substantial stake in the airline.

The two sides have signed a memorandum of understanding laying out a basic transaction proposal, which would involve several stages.

FIMI would initially invest $10 million in the carrier to pick up an 11.4% shareholding, of which about half would come from the stake of core shareholder Knafaim Holdings.