NEW YORK (Jul. 29)
The El Al Israel Airlines today announced that it intends to conclude financial arrangements in the United States for the purchase of modern long-range equipment. The announcement was made by Herbert Cranko, El Al’s director of finance, who is now on a special mission in this country.
“We have studied thoroughly and with the greatest of interest all new developments in commercial aircraft production, especially in Great Britain and the United States. We have come to the conclusion that the most advanced American equipment will best fit in with our plans of future expansion.” Mr. Cranko stated. He described El Al’s pioneering spirit as typical of Israel.
“Our first all-tourist season has proved highly successful, ” Mr. Cranko added. “And we are satisfied that our decision to convert our entire service to tourist class was sound. With new luxury hotels now being completed, and with the new favorable rate of exchange, a tour of Israel will rank among the most attractive bargains available to the American tourist. “
Describing El Al’s record as one of the most important economic developments in the young State of Israel, Mr. Cranko emphasized the airline’s role as a dollar earner and saver. He paid tribute to the “farsightedness and confidence” of Chase National Bank which had enabled the airline to effect its transition to modern equipment.