El Al to acquire competitor Israir

El Al Airlines says its board of directors has approved the merger of Israir with the flagship carrier’s charter subsidiary Sun D’or.

Under the deal, IDB Development will sell all of Israir’s shares to Sun d’Or for $24 million in cash and a 25% stake in the subsidiary.

The merger is subject to the approval of Israel Antitrust Authority director general Michal Halperin.

Most Popular
If you’d like to comment, join
The Times of Israel Community.
Join The Times of Israel Community
Commenting is available for paying members of The Times of Israel Community only. Please join our Community to comment and enjoy other Community benefits.
Please use the following structure: example@domain.com
Confirm Mail
Thank you! Now check your email
You are now a member of The Times of Israel Community! We sent you an email with a login link to . Once you're set up, you can start enjoying Community benefits and commenting.