JERUSALEM (JTA) — Eli Rozenberg, the son of millionaire U.S. businessman Kenny Rozenberg, has made a $75 million bid to acquire a large stake in El Al Airlines.
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Rozenberg, 30, is a resident of Israel and an Israeli citizen, which makes him eligible to become the controlling shareholder of the airline.
His bid would give Rozenberg a 45% stake in the airline, the Israeli business daily Globes reported. The offer comes through a company the younger Rozenberg owns in Israel.
The airline, known as Israel’s flagship carrier, has been laid low by the coronavirus pandemic.
A government bailout package accepted by the airline last week would include a government-backed loan and a stock offering on the Tel Aviv Stock Exchange. Under the bailout, the state would retain a 61 percent stake in the airline, leading again to its nationalization. The airline was privatized in 2004.
At the end of June, El Al canceled all passenger flights through the end of the month, as well as cargo flights and other special passenger flights to specific destinations, Globes reported.
Most of El Al’s pilots and other employees are on leave without pay due to the pandemic and a dispute between the airline and its pilots.
Kenny Rozenberg, who lives in New York, owns the Centers Health Care, a national chain of nursing homes and affiliated services in the United States.
אל על איז א קראנקע בעט, די ארבעטערס וועלן אים ארויסציען די לעצטע טראפן בליט ביז ער וועט אויפגעבן
I cannot imagine investing in an airline or a car manufacturer.
ElAl should be a lesson taught in college of how crooked corrupt arrogant Israeli know-it-all’s can screw a company, that was semi successful, into the ground. The ownership of the defunct airlines should be arrested and thrown in prison with lifetime sentences. Israelis are very good at screwing things up and then blaming everyone else for their failures.
What does that mean, GO ELI GO
I love that old elal Aircraft in the picture
Elal is a good airline we could make it even better just please add it first class seats like Lufthansa you’ll see how will be booming
Must be nice to have hundreds of millions to just throw around.