Israir CEO Confirms Talks to Acquire Arkia, Citing Industry Strength
Translated & summarized from Ynet by baba
Israir CEO Uri Sirkis confirmed his company is in initial talks to acquire Arkia, stating the move aims to strengthen Israeli aviation. The potential merger would create a larger Israeli-flagged airline and reduce operational costs. Sirkis cautioned that the acquisition is in its early stages and not yet certain to proceed.
The story in 5 lines · by baba
- Israir CEO Uri Sirkis confirmed initial talks to acquire rival airline Arkia.
- Sirkis stated the potential acquisition aims to strengthen Israeli aviation.
- A merger would create a combined fleet of 20 aircraft under the Israeli flag.
- The consolidation is expected to reduce operational expenses for the airlines.
- Sirkis cautioned that the deal is in an early stage and not guaranteed.
Israir CEO Uri Sirkis confirmed in a letter to employees that the company has received an inquiry to explore the acquisition of Arkia. Sirkis emphasized that this is only an initial examination phase and the deal is not guaranteed to materialize.
"This is not a hostile takeover, but a move to strengthen Israeli aviation," Sirkis wrote. He explained that merging the two brands would create a group with five wide-body aircraft and 15 narrow-body aircraft operating under the Israeli flag. Such a consolidation, he added, would also lead to savings in operational expenses.
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