El Al planes are seen on the tarmac at Ben-Gurion International airport, near Tel Aviv, Israel, March 10, 2020. Photo: Reuters / Ronen Zvulun.
JNS.org – Eli Rozenberg, a 30-year-old immigrant to Israel from the United States, is the person interested in purchasing El Al Israel Airlines, Globes reported on Sunday.
According to the report, the prospective buyer is the son of businessman Ken Rozenberg, owner of one of the largest chains of nursing homes in the United States, and founder and CEO of Centers Health Care.
His son, who immigrated to Israel a few years ago, is in talks with the controlling stakeholder in the airline. Sources told Globes that he is not so concerned about El Al’s economic current crisis, due most recently to the coronavirus pandemic, and is looking towards the future. The global pandemic forced the shutdown of regular services.
However, according to the report, it is not clear whether the airline’s parent company, Knafaim, which owns the controlling shares, will be willing to sell. So far, it has rejected the bid.
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El Al reached a $400 million bailout agreement earlier this month, which is likely to result in its being nationalized.
According to the terms of the deal, the airline will receive a $250 million government-backed loan, and raise another $150 million by selling shares on the Tel Aviv Stock Exchange, with the state purchasing any unsold stock.