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Israel Plans Acquisition of Jet Planes for El Al with U.S. Loan

Acquisition of pure jet planes by El Al Israel Airlines in 1962 was projected today in plans of the Israel Ministry of Transport for air transport development.

If the plans are approved, four jet airliners will be purchased initially at an expected cost of $50,000,000. It is hoped that 80 percent of that sum will be obtainable as a loan from the United States Export-Import Bank. No decision was indicated as to what brand of planes would be purchased.