For what it is worth, the EU compensation (which is obviously not applicable here) would be €600. I don't know what currency NIS is?

The value of Skywards is debatable, really depends 'what you use them for'. I generally use mine for a J to F upgrade, so they would be worth the fare difference. Some people use them to buy tickets (they don't cover the taxes and surcharges, so generally a poor value). And then there is a 'cash plus miles' option where you can reduce the price of the ticket with miles (sometimes there is a 'special cash and miles offer' which can double the value). And you can use Skywards miles for Duty free shopping at DXB. No idea about the value there....