US Investor Emerges in Talks to Buy Arkia After Costly War Losses

Following tens of millions of dollars in losses during the war and a prolonged legal battle over Wizz Air’s effort to establish a hub in Israel, the Nakash brothers are holding advanced talks to sell control of Arkia Airlines.

The negotiations are being conducted with American investor Elliot Zemel, though there is no certainty the talks will result in a binding transaction. Any deal would require the inclusion of Israeli investors due to restrictions on foreign ownership of Israeli airlines, with Arkia’s value estimated at around $50 million.