A young Chareidi real estate entrepreneur from Boro Park is reportedly in advanced talks to acquire Israeli airline Arkia in what could become one of the more unusual business deals to emerge from the heimishe world in recent years.
The man said to be behind the move is R’ Ezra Ungar, a 36-year-old Chassidishe yungerman who has built a major real estate business in New York and is now being linked to a possible takeover of one of Israel’s veteran airlines.
Those close to Ungar say the motivation behind the move goes beyond business and is tied in large part to the issue of Chilul Shabbos in Israel’s aviation industry. According to the report, Ungar has been deeply pained by the widespread public Chilul Shabbos connected to airline operations in Eretz Yisroel and sees the deal as an opportunity to create a fully Shabbos-observant alternative.
Ungar’s background makes the story all the more striking. He reportedly spent his early years after marriage in Yerushalayim, where he learned in kollel and sold baked goods to help support his family before moving into brokerage and eventually building a successful real estate empire in New York.
Details of the reported Arkia negotiations, including the value of the deal and what the airline would look like under new ownership, have not been made public, and Arkia declined to comment on the reported talks.
(YWN World Headquarters – NYC)
4 Responses
this is beautiful and hopefully unlike el al the women stewardesses will be required to dress in accordance with tznius.
I’m sticking with ElAl.
Given the conditions in New York, and the rise of socialism and anti-semitism in the Democratic party, it would be reasonable for a Boro Parker to get out of real estate, and to have an airline ready to fly Yidden elsewhere. If leaving New York become “prudent”, there will be a collapse of real estate prices especially in areas be vacated by those fleeing.
akuperma, great business insight, thanks a lot! For diversification purposes, always add an airline to your real estate holdings.