All El Al articles – Page 3

  • El Al fleet-c-El Al

    El Al formally signs for $130m loan against its loyalty programme


    Israeli flag-carrier El Al has signed a formal agreement for the sale of its frequent-flyer scheme, valued at $500 million, in order to provide additional liquidity to the airline. The scheme and its assets are being sold to a subsidiary of the carrier, El Al Matmid Frequent Flyer. El Al ...

  • Pegasus, El Al, KLM, Austrian

    Airline CEO changes in 2022 dominated by appointment of women and upheaval in India


    The global airline executives gathering in Doha for this year’s IATA AGM will reflect recent trends including better gender diversity among incumbents and big changes at Indian carriers

  • El Al fleet-c-El Al

    El Al tries to stem pilot disruption as it copes with recovery demand surge


    Israeli carrier El Al is urging pilots to ensure flight schedules are met, after multiple cancellations over a dispute with the company. El Al says it has contacted its pilots’ committee seeking “immediate” negotiations over the matter. The company says it has been forced to cancel services in recent days ...

  • El Al fleet-c-El Al

    El Al prepares for share issue and finalisation of loyalty loan


    Israeli flag-carrier El Al is preparing for a share offering valued at around $62 million, as part of its effort to solidify its financial position. The airline is also finalising discussions with insurance firm Phoenix Group over a $130 million loan against its frequent-flyer programme, and expects to finish the ...

  • El Al-c-El Al

    Recovering El Al looks towards profitability next year


    Israeli flag-carrier El Al is working to restore its operation to pre-crisis levels with the intention of shifting to profitability from the second half of 2023. It has posted a $66.3 million net loss for the first quarter of 2022, a 23% improvement on the previous year’s figure for the ...

  • Dina Ganancia-c-El Al

    Israel’s El Al appoints first female chief executive


    Israeli flag-carrier El Al has appointed a female chief executive, Dina Ben Tal Ganancia, to succeed the departing Avigal Soreq. Ganancia will take up her position on 1 June, according to El Al. Source: El Al Ganancia will succeed the outgoing Avigal Soreq She previously serviced as ...

  • Airline Business Weekly Briefing Logo WEB2

    More airlines able to look forward with confidence about recovery


    A notable theme over the past week has been the shift in global airline narrative towards renewal, as more markets emerge from the worst of the Covid-19 crisis.

  • Avigal Soreq-c-Delek

    El Al chief executive Soreq quits to lead former US employer


    Israeli flag-carrier El Al’s chief executive, Avigal Soreq, is stepping down from the top post at the airline after little more than a year. Soreq will leave the role towards the end of June this year, according to El Al. He joined the company in January last year after being ...

  • RAM 787 title-c-RAM

    El Al seals Moroccan codeshare after RAM opens Tel Aviv link


    Moroccan flag-carrier Royal Air Maroc has reached a codeshare agreement with Israeli counterpart El Al, tightening the newly-formed ties between the two sides. RAM inaugurated a service between its Casablanca hub and Tel Aviv on 13 March. It operated a Boeing 787 on the route, as flight AT228, carrying a ...

  • El Al 737-c-El Al

    El Al agrees $130m loan against frequent-flyer programme


    Israeli flag-carrier El Al has reached a provisional agreement with insurance specialist Phoenix Group regarding a loan to the subsidiary which holds the airline’s frequent-flyer loyalty programme. Upon completion of the transaction, Phoenix will provide a loan of up to $130 million which will be repaid by 31 December 2027. ...

  • El Al 787-c-El Al

    El Al turns in full-year net loss of over $400m


    Israeli flag-carrier El Al has posted a full-year net loss of $413 million, compared with the previous year’s loss of $531 million. El Al’s revenues reached $857 million – higher than the $623 million during the pandemic-hit 2020 but still far below the near-$2.2 billion in the year before the ...

  • El Al 787-c-El Al

    El Al given more time to conclude loyalty-scheme sale


    Israel’s government has granted flag-carrier El Al more time to sell its frequent-flyer programme, one of the conditions of a financing package agreed with the state. El Al has also pledged not to sell its take-off and landing slots at various airports, or use them in other ways to raise ...

  • El Al 787-c-El Al

    El Al looks to exploit assets in order to strengthen financial position


    Israeli flag-carrier El Al is looking at the possibility of using its assets to continuing strengthening its balance sheet, although it has yet to confirm whether these include its landing slots. The airline says it is examining “various outlines” and “all the options available”, working in co-operation with a number ...

  • El Al Arkia-c-Nicky Boogaard Creative Commons Airbus

    El Al board approves non-binding framework for Arkia acquisition


    El Al’s board has approved a non-binding memorandum of understanding in preparation for signing an agreement to acquire fellow Israeli carrier Arkia. Under the proposed transaction El Al will acquire the entire share capital of Arkia from its shareholders, and the airline will become a wholly-owned subsidiary of the Israeli ...

  • El Al business class-c-El Al

    El Al sets up subsidiary to host loyalty programme


    Israeli flag-carrier El Al has shifted its frequent-flyer programme to a wholly-owned subsidiary as part of its efforts to obtain financial support from the government. El Al says the activities and assets of the programme have been moved to assist the development of the business and the “recruitment of investors”. ...

  • El Al 787-c-El Al

    El Al reaches framework agreement with Israeli government over additional aid


    Israeli flag-carrier El Al has reached an agreement in principle with the country’s government on an additional aid plan in response to the air transport crisis. The Israeli finance ministry states that the understanding follows “intensive negotiations” over the last few weeks between the parties. Its framework plan includes an ...

  • IntellAct turnaround tool-c-IntellAct

    El Al arm shows off automated monitor to speed turnaround times


    Israeli carrier El Al’s technological investment division Cockpit Innovation is showing off an artificial intelligence tool intended to increase turnaround efficiency at airports. It will present the system – developed by one of its portfolio firms, IntellAct – at the World Aviation Festival event in London, which opens on 1 ...

  • El Al fleet-c-El Al

    El Al’s nine-month losses top $300m


    Israeli flag-carrier El Al has turned in net losses of $136 million for the third quarter, taking total losses over the first nine months to $303 million. El Al generated third-quarter revenues of $253 million, the carrier has disclosed in its latest financial statement. The carrier is still trying to ...

  • El Al 787-c-El Al

    El Al details loan and share issue to secure $30m in state aid


    Israeli flag-carrier El Al has detailed an agreement for funding support from the government and its controlling shareholder, Kanfei Nesharim, which includes a commitment to a share offering by mid-September next year. Under the 22 November agreement Kanfei Nesharim will provide El Al with $63 million through four loans. Three ...

  • El Al 787-c-El Al

    Israeli government to offer additional state-aid package to airlines


    Israel’s government is to offer additional financial support to the country’s troubled airlines, approving a proposal for a state aid package worth up to $44 million. The finance and transport ministries say they have jointly put forward the proposal to provide “immediate cash-flow assistance” given the “exceptional damage” inflicted on ...