Arkia, Israel's largest charter airline, could become the leading shareholder of the country's national carrier El Al after acquiring 3.5% of the government's 15% flotation offering at a cost of $3.5 million. Arkia is expected to increase its shareholding to 20% within 18 months, analysts predict, and put in place a comprehensive recovery plan for the Ben-Gurion International airport-based airline. Share trading in El Al began on 12 June.
Source: Flight International