El Al Announces Resumption Of Flights Following Rozenberg’s Purchase Of 42.9% Of The Co.

12
Eli Rozenberg, the new owner of El Al.

Print Friendly, PDF & Email

El Al announced on Thursday that it is resuming passenger flights from October 1 and cargo flights from September 21, Army Radio reported.

Yeshivah student Eli Rozenberg, 27, acquired 42.89% of El Al with a $150 million offering at the company’s public offering on Wednesday through his newly formed Kanfei Nesharim company, replacing Tami Moses-Borovitz as the main shareholder through her family’s company Knafaim Holdings Ltd.

The Israeli government bought $30 million worth of shares and will have a 12%-15% stake in the company.

Rozenberg turned out to be the only bidder at the offering following Meir Gurvitz’s decision to drop out of the race due to the Finance Ministry’s refusal of a private placement followed by Russian-Israeli businessman David Sapir‘s decision to drop out as well.

Former US envoy to the Middle East Jason Greenblatt is serving as one of Kanfei Nesharim’s main advisers.

Other members of the Kanfei Nesharim Aviation company include: former IDF Head of Central Command Maj.-Gen. (res.) Roni Numa, who will manage security matters, Moti Engelman, CEO of Reut Airways, who will oversee aviation matters, former Israeli Ambassador to the UN Prof. Gabriela Shalev, who will be responsible for legal issues, and Reem Aminoach, head of the UHY Shtainmetz Aminoach & Co. accountancy firm, who will manage the company’s finances.

“We are proud of the results of the public offering of El Al, the national airline, which at the end of the offering saw us holding a 42.85% ownership in the company,” Kanfei Nesharim stated on Wednesday evening. ”

“First and foremost, Kanfei Nesharim takes upon itself a great responsibility to restore the trust of passengers, and to ensure the jobs of thousands of El Al employees, and lead Israel’s airline into a secure future. Throughout recent months. Kanfei Nesharim has proven its seriousness, commitment and financial ability to help rehabilitate El Al.”

“It is our intention to provide for El Al’s benefit an experienced professional staff with proven ability in all the relevant fields to manage a national airline company. The team will lead El Al in becoming a developing and flourishing company operating with the most advanced standards in the global aviation sector.”

“El Al controlled by Kanfei Nesharim Airlines will put a special emphasis on punctuality for all flights, investing in major resources to improve service and improve trhe flying experience for all its customers, and working to upgrade the food served to passengers in all classes.”

(YWN Israel Desk – Jerusalem)




12 COMMENTS

  1. El Al Announces Resumption Of Flights So what about reopening Israel’s Border, and rescinding 14 day quarantine:- If someone tests negative, don’t need quarantine.
    Anyways all the quarantines until now haven’t staved off Israel being in worst Corona crisis than ever.

  2. Do you know how to make a small fortune in the airline business? Start with a large one. WIshing him and his father best of luck. They will need it. Fly United.

  3. While I hope I’m wrong, this investment will probably be a money pit for the Rozenbergs. They will have extreme pressure from the frum crowd to uphold chumros of halacha requirements while they deal with airline unions and the Israeli government. They will never please everybody.

  4. TGIShabbos: There are document cases under the old ownership where women did not move fast enough when a frum yid told them to change seats since they didn’t want to sit in the varbeshe section of the plane. Hopefully, such insubordination and potential risks of negiah and tzinius will not be allowed under the new ownership
    Shana Tovah (to you and El Al)