Menu JTA Search

El Al is Going Public

Download PDF for this date

E1 A1, Israel’s government-owned airline, plans to go public to raise cash for modernization.

Finance Minister Shimon Peres announced that 25 percent of the company will be sold in shares to its employees in Israel and worldwide, as a first stage.

“Stage 2 would involve the sale of an additional 25 percent of the company on foreign stock exchanges, but this will begin at a later date,” Peres said.

Revenues from the sale of shares will be used to finance the replacement of aging aircraft and to enlarge the carrier’s fleet.

E1 A1, which offers non-stop flights between Tel Aviv and New York, is in receivership, but has shown a profit in each of the past three years.

Founding Funders

The digitization of the JTA Archive would not have been possible without the generous support of the following donors:
  • The Gottesman Fund
  • Righteous Persons Foundation
  • Charles H. Revson Foundation
  • Elisa Spungen Bildner and Robert Bildner, in honor of Norma Spungen
  • George S. Blumenthal
  • Grace and Scott Offen Charitable Fund