El Al has signed agreements with the cabin, administrative, and technical unionized workforce sectors, while the pilot union has yet to sign a deal with the company.
By TAMAR URIEL-BEERIEl Al crew practices social distancing after landing in Perth to bring Israelis stranded in Australia back home(photo credit: EL AL)
Eli Rozenberg, the son of Kenny (Naftali) Rozenberg, has expressed an interest in purchasing El Al Israel Airlines Ltd., Globes reported Sunday.Eli approached Knafaim, the parent company of El Al, with an interest in purchasing the Israeli airline. They are in talks about the conditions the airline must meet to acquire state aid, the report said.El Al is attempting to meet such conditions, as the Finance Ministry may guarantee a $250 million loan, while purchasing $150m. worth of stock, thereby nationalizing the company.This was set in place so that an investor such as Rozenberg could be able to purchase El Al. The conditions involve agreements with four labor unions, representing different segments of the airline’s employees. The program requires that El Al significantly downsize its workforce and lay off about a third of its employees.An Israeli investor, perhaps a different one than Rozenberg, was looking into purchasing the company, Haaretz recently reported.“It is clear that the state is committed to helping El Al on condition that El Al takes steps to help itself,” El Al CEO Gonen Usishkin said in a letter to employees, according to Globes. “This means implementing the program presented to the Finance Ministry precisely and according to the stages set out.”El Al has signed agreements with the cabin, administrative and technical unionized workforce sectors. The three labor unions include more than 5,000 employees. The pilots’ union has yet to sign a deal with the company.
