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El Al Israel Airlines Receives $2,500,000 Loan in United States

Negotiations for a loan of $2,500,000 were concluded successfully with the Chase National Bank of New York, it was announced by El Al Israel Airlines today. The loan will be utilized to finance the recent purchase of a fourth Constellation aircraft and to consolidate the company’s dollar position, according to D. Galezer, El Al manager of finance and administration for the Americas.

El Al, said Mr. Galezer, was now considering the latest models of aircraft announced by various manufacturers in recent months, and was making a thorough study of those types of aircraft most suitable for the company’s present requirements and future expansion plans. A decision on the choice of new equipment is expected to be announced at the company’s head office in Tel Aviv in the near future.

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