El Al, the national subsidized airline of Israel, is seeking private foreign capital with which to enlarge and improve its services, according to A. Pinkus, general manager, who just returned from the United States.
Mr. Pinkus has negotiated a $500,000 loan from the Chase National Bank of New York. The loan is underwritten by the Israel Government which will help the company repay it, Mr. Pinkus pointed out that once the company’s new repair shop is opened with funds provided by the loan, foreign currency which normally goes for repair bills will be saved. Money is also needed to establish an aviation school to provide personnel for the company, he said.
A Swiss-Israel air agreement was signed at Lydda airport last evening by Swiss Minister H. Seipet and A. Bartur, director of the Foreign Ministry’s economic department. The agreement provides for the full use of the Israeli and Swiss air facilities by Swissair and El Al.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
