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El Al Israel Airlines And Etihad Airways To Explore Greater Cooperation Following MoU Signing - Statement
El Al Israel Airlines Says FY Revenue Rose 2% To $2.18 Billion
El Al Qtrly Rev $429 mln
El Al Israel Airlines Ltd. (El Al) is an international airline company. The Company operates domestic and international flights between Israel and abroad. Services include commercial flight services, charter flights and cargo. Further activities include the provision of catering services to its own and leased aircraft, checking services, such as at arrival and departure desks, cargo handling, security services and maintenance services for its own flight carriers, as well as for other companies. El Al also offers an E-Club card, offering various deals and bonuses for its members. The Company's fleet comprises two Boeing 737-700 and 14 737-800, five Boeing 747-400, seven Boeing 767, five Boeing 757 and six Boeing 777-200 aircraft. El Al's subsidiaries include Sun D'or, Taman, Catit, Superstar Holidays, ACI (50%), Borenstein Caterers, Airtour (50%), Cyber (49%) and Holiday Lines (20%).
Ben Gurion Airport
P.O. Box 41
Chairman of the Board
Chief Executive Officer
Vice Chairman of the Board
Tamar Ada Mozes Borovitz
Vice Chairwoman of the Board
Vice President - Finance
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Price To Sales (TTM)
Price To Book (MRQ)
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Total Debt To Equity (MRQ)
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* Q3 loss $147 mln vs $27 mln profit a year ago (Recasts, adds CEO, government comments)
El Al Israel Airlines will operate 14 weekly flights from Tel Aviv to Dubai from Dec. 13, it said on Monday, joining a handful of carriers launching routes between Israel and the United Arab Emirates (UAE).
El Al Israel Airlines and Etihad Airways, the United Arab Emirates' national airline, said on Thursday they signed a deal to explore deeper cooperation such as joint codeshares between Abu Dhabi and Tel Aviv and other destinations.
Three Israeli airlines will begin direct flights from Tel Aviv to Dubai in December, with El Al operating twice daily services, Israir offering six weekly flights and Arkia operating a daily service, Dubai Airports said on Wednesday.
The chief executive of EL Al Israel Airlines said on Friday he would leave the position by January and a search for his replacement was underway.
Israel's privatisation body on Friday granted control of El Al Airlines to religious student Eli Rozenberg, putting faith in the 27-year-old's plan to turn around the cash-strapped flag carrier.
A 27-year-old U.S.-born yeshiva student has secured control of El Al Israel Airlines <ELAL.TA> following a public share offering that was a government condition for the carrier to receive a 75% state-backed $250 million loan.
Cash-strapped El Al Israel Airlines <ELAL.TA> raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package.
El Al Israel Airlines <ELAL.TA> said on Thursday it would operate the first cargo flight to Dubai by an Israeli carrier on Sept. 16.
Israeli-Russian businessman David Sapir has offered to buy joint control of financially strapped El Al Israel Airlines <ELAL.TA>, promising to use his business ties to return Israel's flag carrier to profitability.
The El Al flight carrying the U.S. and Israeli delegations to the United Arab Emirates entered Saudi Arabian airspace on Monday, the first known such action by an Israeli commercial airline.
El Al Airlines <ELAL.TA> will on Monday fly Israel's first flight to the United Arab Emirates by a commercial carrier, an airline spokesman said on Friday, as the countries forge ahead with a deal to normalise ties.
El Al Israel Airlines swung to a loss in the second quarter with commercial operations still suspended due to COVID-19, while cargo flights and cutbacks were unable to offset the loss in revenue from passenger flights.
The chairman of El Al Israel Airlines <ELAL.TA>, Eli Defes, is stepping down immediately because of an undisclosed medical condition, he said on Sunday.
Eli Rozenberg's bid for a controlling stake in El Al Israel Airlines <ELAL.TA> is below the price that can be obtained in a public share offering and may struggle to gain board support, said a source close to the board who declined to be named.
El Al's <ELAL.TA> fate is expected to be decided in the coming days, with the Israeli airline looking to reach a deal with workers on job and spending cuts to get government aid.
El Al Israel Airlines reported a first quarter loss on a steep drop in revenue and said it has had to give up some of its fleet and release most of its workforce on unpaid leave to contend with the coronavirus outbreak.
The coronavirus crisis may be pushing El Al Israel Airlines <ELAL.TA> back into the hands of the state, less than two decades after the flag carrier was privatised.
El Al Israel Airlines <ELAL.TA> on Monday extended unpaid leave for 5,800 workers until July 31 and said that without state aid it will not be able to resume operations once the country's borders, shut over the coronavirus crisis, reopen.
El Al Israel Airlines on Wednesday extended a suspension of scheduled commercial flights until June 20 but said it would continue to use its aircraft for cargo and occasional passenger flights.
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