ElAl effectively shutdown...

Old Aug 12, 20, 6:33 pm
  #121  
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Originally Posted by craz View Post
Now Im not stupid and realize that the kid most likely is just a figurehead, since his father cant as a non-Israeli own LY. although the fathers company was involved in some Medicare stuff was the kid involved? Was the kid the one who pulled off the scam?
No, but the non-Israeli family members with a history of shady business practices are likely to be the ones who will be pulling the strings and thus, for all practical purposes, controlling the company.

I cant think of any decent reason for why they want to own LY
Why did Carl Icahn take over TWA?
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Old Aug 12, 20, 7:22 pm
  #122  
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Originally Posted by TWA884 View Post
No, but the non-Israeli family members with a history of shady business practices are likely to be the ones who will be pulling the strings and thus, for all practical purposes, controlling the company.



Why did Carl Icahn take over TWA?

Agree on pt 1 and said as much, doubt the kid is using his own money

Pt 2 why did Warren buy USAir,Southwest,United,Delta etc etc Warren lost on his bet, Icahn I believe made out like a bandit But TWA was a US carrier not an Israeli where the demands from all sides are a killer and where the employees kill you with their wages and benefit demands. If they cant get the employees to take haircuts in regards to wages and benefits its over before they even start.
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Old Aug 15, 20, 12:11 pm
  #123  
 
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Another potential bidder for El Al

https://www.jpost.com/israel-news/se...e-el-al-638747

This bidder is also Haredi. An Israeli citizen, but living in the UK. If these are the only two bidders then it seems unlikely that the reorg of El Al will include flying on Shabbat.
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Old Aug 15, 20, 12:43 pm
  #124  
 
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https://hamodia.com/2020/08/13/secon...-buyer-checks/
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Old Aug 15, 20, 1:17 pm
  #125  
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More detail in Globes:
***
In Israel [Meir Gurvitz] is the controlling shareholder in Arazim Investment Ltd. (TASE: AZRM), which has income producing real estate in the UK and it is the only public company that he holds. Arazim was hit hard by the financial crisis in 2008 and its debts mounted up to NIS 1 billion, but this has been reduced to NIS 180 million, without any need of a haircut or write down. "This is some indication of his financial capabilities," a source close to him said, "His Israeli activities are only a small and public part of his activities, the rest are spread over Europe and the US."

When asked why Gurvitz would want to buy El Al the source said, "Gurvitz believes that the collective agreements that have been signed with the employees, makes El Al 'interesting' It is clear to him that the company won't bring him prof
***
Gurvitz even holds a pilot's license and was known to fly the private jet that Arazim once owned. He was born in Kiryat Ata near Haifa and left for England when he was 15 to study at the Gateshead yeshiva. When he was 20 he moved to London with 500 in his pocket, which he had borrowed from a friend, and he began dealing in building materials. In 1986 he bought 73 properties from Lloyds Bank for $50 million together with his friend the late Motti Zisser, and took control of the stock market shell of Arazim. At its peak Arazim was worth NIS 1.1 billion and was traded on the Tel Aviv 100 Index but as mentioned the company fell on hard times after 2008.

***
And Haaretz:
***
El Al has retained the U.S. investment bank Jefferies to sell the shares in the United States, but sources said the airline will not meet an end-of-August deadline to sell $150 million in shares to the public. The share sale is a condition set by the Finance Ministry before it will agree to guarantee a $250 million bank loan the airline needs to stay afloat.

The El Al offering is ensnared by several problems, among them the government’s commitment to buy any shares the public does not buy. If it purchases the full allotment, the state could end up holding 61% of the airlines. The problem is that by law, if it amasses more than a 45% stake it must make a general offer to buy out the rest of the El Al’s shareholders.

***
Despite El Al’s deep financial troubles, Gurvitz reportedly sees the agreements with the four workers’ committees that management has recently reached as turning the airline into an attractive investment.

***

Last edited by TWA884; Aug 15, 20 at 1:24 pm Reason: Add quote from Haaretz
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Old Aug 18, 20, 11:20 pm
  #126  
 
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3rd buyer for Elal:
https://en.globes.co.il/en/article-t...-al-1001339800
"Israeli-Russian businessman David Sapir who controls telecommunications and tourism companies"
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Old Aug 20, 20, 1:45 am
  #127  
 
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https://www.jpost.com/breaking-news/...mber-21-639290

Possibility that commercial flights may resume by the end of September, with Cargo on 21/09
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Old Aug 20, 20, 6:07 pm
  #128  
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Originally Posted by davidcamp6 View Post
https://www.jpost.com/breaking-news/...mber-21-639290

Possibility that commercial flights may resume by the end of September, with Cargo on 21/09
Good. Let see what happens. Hopefully they will resume passengers flights. If they get better soon. I hope.
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Old Sep 16, 20, 12:54 pm
  #129  
 
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Eli Rosenberg is the new controlling shareholder of ElAl

Read the article here - Yeshiva World

Globes article
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Old Sep 16, 20, 2:44 pm
  #130  
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Originally Posted by Calculated Risk View Post
And if they have 1/2 a brain they wont look to any Blogger for ideas of what to do, since their game is to make money and a Bloggers is to get stuff for Free or as close to it as they can, and most people want to pay as little as possible and get as much as possible. If these Bloggers were any good by now they would have been high up in a position with a Carrier, but all they want is more and more for less and less and no way will LY beable to make it on that basis. #1 has to be to BUST the union and the pay and benefits that the employees have been able to rip from LY till now, Their motto s/b No Sacred Cows

Last edited by yosithezet; Sep 16, 20 at 5:15 pm Reason: OT content redacted
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