This is proprietary information which I will not disclose in a public forum but what I will say is that EL AL's current net worth, when you subtract liabilities, is around $35 million. This $35 million figure includes equity in some of the aircraft they own (primarily the 772's) none of which I want, except for the 738's.

As far as my investor pool is concerned, it consists of American Jews and American Evengelical Christians. None of them are investing for the purpose of making a profit. They are all investing because they believe, as do I, that the State of Israel needs a viable national carrier and we do not want to see the EL AL name go by the wayside as so many long standing carriers have in recent years.

As far as management is concerned, we will have at minimum 60% less VP's and managers. We will close down many offices (particularly in Europe) where activities are redundant and quite frankly can be handled out of TLV, London, or Paris. I will be the CEO of the new EL AL and will leave my post after 4 years by which time I expect to have accomplished most, if not all, of what I want for this new carrier.

During and after the start up phase, I plan to rely heavily on the regulars in this forum to not only advise on the specific seats and IFE to purchase, but on Matmid benefits, flight schedules, and personal observations of what the old EL AL did right so we could replicate it, and what the old EL AL did wrong so we can avoid it. I will be personally in touch with the frequent posters here and will always be accessible to them.