Eli Rozenberg, a 27-year-old New York-born yeshiva student who lives in Jerusalem, became the owner of Israel’s embattled national carrier El Al on Wednesday, The Times of Israel reported.
Rozenberg’s Kanfei Nesharim company bought a controlling 42.85% stake in the airline with a $150 million offering. The state, which had committed to buying any unwanted shares as part of a rescue package, bought some $30 million worth of shares for a stake that could equal between 12 and 15% of the company, The Times of Israel reported.
“First and foremost Kanfei Nesharim takes upon itself a great responsibility to restore the trust of passengers, and to ensure the jobs of thousands of El Al employees, and lead Israel’s airline into a secure future. Throughout recent months Kanfei Nesharim has proven its seriousness, commitment and financial ability to help rehabilitate El Al,” the company said in a statement following the purchase.
It said that under new management El Al would put a focus on “punctuality” and upgrading food services across all classes.
The already troubled airline was dealt an almost-fatal blow by the travel-restricting coronavirus crisis, which caused El Al to cease its scheduled passenger operations and send some 5,800 of its 6,303 employees out on unpaid leave.
Rozenberg, a 27-year-old Israeli citizen and yeshiva student who lives in Jerusalem had already deposited $15 million for the purchase in a trustee account to prove his seriousness, The Times of Israel reported.
The cash for the transaction will come from Rozenberg’s father Kenneth (Kenny) Rozenberg, the founder and CEO of Centers Heath Care, a chain of nursing homes in the United States.
The Rozenbergs, Orthodox Jews from New York, have no known experience in the airline business. According to a report last month in Hebrew business daily Calcalist, Kenny was instructed by his rabbi to buy the Israeli airline.
Is EL AL gonna still be flying from LAX to Tellaviv? As well as New York to Tellaviv?
Mazel Tov Eli!
Hatzlacha Rabbah !
EL AL stands for:
Every Landing Always Late.
No more surprise landings on Shabos?
are they going to stop treating haredim like garbage?
Will Haredim stop treating an airplane like a bungalow colony?
but that doesnt change the legitimacy of the first question. el al treats frum people terribly. It is the only airline in which a Frum yid wants to change his seat because he is next to a woman, el al throughs him off the plane (not when it is mid flight though, bh). what a shame hat a “Jewish” airline, the airline of the “Jewish” state, treats Jews so badly.
While Israelis were stranded abroad during the Iranian conflict, ELAL significantly raised ticket prices for the rescue flights. Tells you a lot about this airline and who runs it.
Is there going to be separate seating, movies with hashgocha, and a minyan area?
Mazel tov! Please make money and stop flights on Shabbat
JUST SAYING…
VANITY SHOULD NEVER GET IN THE WAY OF BUSINESS DEALS…
CLEARLY ITS THE FATHER NOT THE 27 YEAR OLD WHO IS BUYING IT AS A FRONT.
ELAL IS BLEEDING MONEY AND ON TIP OF BANKRUPTCY…WHO IN THEIR RIGHT MIND SPENDS 150M ON AN AILING AIRLINE AND IN A GLOBAL PANDEMIC, WHEN EVEN EMIRATES AIRLINES ARE TEETERING?
SHEER MADNESS.