Arkia Employees Protest Potential Sale, Job Cuts
Summarized from The Times of Israel by baba
Arkia Israel Airlines employees protested in Bnei Brak on Tuesday against potential cost-cutting and job reductions by the airline's controlling owners, the Nakash brothers, ahead of a possible sale. Around 300 employees fear their rights and job security will be undermined, especially after learning of plans to raise capital that would dilute their 22.1% stake. Arkia faces projected losses exceeding $30 million in 2026 and acknowledges industry-wide cost pressures. The Transportation and Seaport Workers’ Union has threatened industrial action if workers' rights are violated.
The story in 5 lines · by baba
- Arkia employees protested potential job cuts and cost-cutting measures ahead of a possible sale of the airline.
- Around 300 employees fear a capital injection plan will dilute their 22.1% ownership stake.
- The Nakash brothers, who own over 70% of Arkia, are reportedly seeking a buyer for their stake.
- Arkia is projected to lose over $30 million in 2026 and faces industry-wide cost pressures.
- The Transportation and Seaport Workers’ Union threatened industrial action over unilateral restructuring plans.
The Times of Israel publishes in English. The key points are summarized above. Read The Times of Israel’s full report from the link at the top of the page.
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