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El Al Poised to Buy Share in Newly Formed U.S. Airline

November 16, 1989
See Original Daily Bulletin From This Date

El Al, Israel’s national air carrier, is about to acquire a 25 percent stake in a newly formed American airline, North American Airlines, whose application was approved by the U.S. government two weeks ago.

North American will begin operating out of Kennedy Airport in New York in mid-January.

Rafi Harlev, El Al’s managing director, explains that the Israeli airline is seeking to get a foothold in the U.S. and Europe, as part of its strategy to prepare itself for the world of aviation that will exist after 1992, when the Economic Community will officially exist as a unified trade and economic regime.

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