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Levy and Haim are gaining control of an airline hit hard by the restrictions on global travel due to the coronavirus epidemic. Nevertheless, the two see room for synergies between air travel and supermarkets once global aviation recovers.
The outlines of the synergy strategy were revealed Monday when Rami Levy’s eponymous, publicly traded supermarket company said it had been given an option to buy a 24% stake in Israir in the next 90 days for 39 million shekels in cash – the same valuation as Israir is being acquired now – as well as an option to establish a loyalty program with Israir similar to rival El Al’s Fly Card.