Israeli flag-carrier El Al has named Yacov Shahar as the airline’s new chief financial officer, succeeding Yitzhak Eliav.

El Al says it formally appointed him to the post on 24 April.

Shahar has previously served a long tenure as the company’s treasurer.

His background includes holding the position of chief financial officer and vice-president of real estate specialist El Ad Group in Canada.

Shahar also served as customer relations manager at Israel’s Bank Hapoalim.

He takes up the top financial post at El Al as the airline emerges from a long recovery and restructuring programme aimed at restoring the carrier to profitability.

El Al recently released financial results showing it had achieved a full-year operating profit for 2022 of $113 million and a net profit of $109 million, on revenues of nearly $2 billion.

El Al 737-c-El Al

Source: El Al

El Al is looking to expand after returning to full-year profits