ECONOMY

After sale, El Al will resume flights to Athens

after-sale-el-al-will-resume-flights-to-athens

A 27-year-old US-born yeshiva student has secured control of El Al Israel Airlines following a public share offering that was a government condition for the carrier to receive a 75% state-backed $250 million loan.

Eli Rozenberg’s newly created Kanfei Nesharim Aviation bought $107 million of shares that would give him a nearly 43% stake in Israel’s flag carrier, his spokesman said on Thursday.

El Al suspended scheduled passenger flights in March at the outset of the coronavirus outbreak when Israel closed its borders to foreign citizens.

Earlier on Thursday, it said it would resume flights to Athens on October 1, followed by daily flights to New York, London and Paris starting on October 12.

[Reuters]