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Israel Seeks $16,000,000 Loan from Export-import Bank for El-al Planes

Israel has opened negotiations with the United States Export-Import Bank for a $16,000,000 loan for the purchase of two Boeing 707 jetliners for E1-A1 National Airlines, it was disclosed today.

E1 A1 has signed an agreement for an option on the purchase which will total $20,000,000. The American plane maker has sent several engineers to Lydda airport where they have started training the first group of E1 A1 ground crews in jet airliner maintenance.