US Businessman Rozenberg Gets Nod to Control Israel s El Al | Jewish & Israel News Algemeiner com
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Cash-strapped El Al Israel Airlines raises $77 million in options sale
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JERUSALEM (Reuters) - El Al Israel Airlines said on Tuesday it raised 250 million shekels ($77 million) in a sale of options on the Tel Aviv Stock Exchange, meeting a key condition for a state-backed loan needed to repay the flag carrier’s debts.
FILE PHOTO: An Israel El Al airlines plane is seen after its landing following its inaugural flight between Tel Aviv and Nice at Nice international airport, France, April 4, 2019. REUTERS/Eric Gaillard/File Photo
The airline said some $50 million came from controlling shareholder Eli Rozenberg, a 27-year-old student who bought the cash-strapped carrier in October, and $27 million from institutional investors.