From the Liveblog of
Wednesday, November 4, 2026
Israir says it’s been approached to consider acquiring debt-ridden local rival Arkia
Add ToI as a Preferred Source on GoogleSharon Wrobel is a tech reporter for The Times of Israel
Israeli carrier Israir says it has been approached to consider acquiring debt-ridden local rival Arkia Israel Airlines, which has been up for sale over the past year.
Talks of a potential takeover of Arkia by Israir were first reported by the Israeli financial daily Globes.
Israir stresses in response to the report “that there is no certainty that the evaluation will mature into a transaction, and that it does not constitute any commitment or guarantee.”
In the first three quarters of 2026, Arkia reportedly incurred total losses of about $30 million, and it is projected to end the year with a loss of $50 to $60 million.
“Arkia is a privately held company that does not publish its financial data,” the airline says in a statement. “During the current challenging period, against the backdrop of rising fuel prices and a changing geopolitical reality, Arkia continues to act responsibly by making the necessary adjustments, while keeping its customers, employees and continued operations as a strong Israeli airline the top of its priorities.”
The controlling owners of Arkia are the Nakash brothers, while employees own a 22 percent stake in the carrier, a holding that gives them a right of first refusal on material transactions.
“In light of the situation the company has found itself under the management of CEO Oz Berlowitz, the shareholders are working vigorously to rehabilitate the company and are examining various alternatives in Israel and abroad,” the Nakash group says.
The takeover talks come a day after Arkia employees demonstrated in Bnei Brak east of Tel Aviv against unilateral moves by the carrier’s controlling owners ahead of a potential sale, which they fear will undermine workers’ rights and job protections. The union warned that it will fight any violation of employees’ rights, job security or status at the company and threatened industrial action, including a labor dispute, that could disrupt the travel plans of thousands of passengers.
The Times of Israel Community.