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Planes and carriers, David Sapir could rescue El Al

Russian-Israeli businessman made his offer

David Sapir. This is the name of the possible "savior" of carrier El Al Israel Airlines: it is a Russian-Israeli businessman who came out in the last few hours with an offer of 51 million dollars for the joint control of flag airline of Tel Aviv. Sapir would have asked to renounce the public offering of shares to control El Al together with Knafaim Holdings, group active in the aviation sector (the shareholding would be identical). Airline is trying to avoid bankruptcy and government offered a $ 250 million loan.

This entrepreneur is strongly intent on moving to Israel for a better airline operator: his proposal also includes the acquisition of fuel from companies related to his business (telecommunications and tourism) to reduce supply costs. Furthermore, Sapir's European residence should be a guarantee for a loan from the banks of the old continent. The hypothesis seems to be to the satisfaction of the national airline, also because the bank debt is destined to increase, but with an important injection of liquidity. In recent days El Al was protagonist of a historic flight from Tel Aviv to Abu Dhabi in anticipation of future peace agreements (read also the article published by AVIONEWS).

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AVIONEWS - World Aeronautical Press Agency
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