Arkia Airlines Sale Completed Amid Labor Dispute
Translated & summarized from Panet by baba
Arkia Airlines' controlling stake has been sold to a group of investors for an estimated $45 million, with an additional $40-50 million expected to be injected into the company. The Transport Workers Union has declared a labor dispute, citing unilateral actions by the new owners that threaten jobs and the company's future. Union officials warn that these measures could lead to canceled routes and financial instability, vowing to protect workers from being used as leverage in ownership conflicts.
The story in 5 lines · by baba
- Arkia Airlines' controlling stake was sold to a new investor group for $45 million.
- The airline is expected to receive an additional $40-50 million in capital post-sale.
- The Transport Workers Union declared a labor dispute over unilateral owner actions.
- Union officials fear job losses, canceled routes, and company financial instability.
- The union vowed to prevent workers from becoming 'hostages' in ownership disputes.
The controlling stake in Arkia Airlines has been sold to a group of investors including Kidan Dahari, Yaron Adeeb, businessman Yariv Lenner, and Einav Adeeb-Barer. The deal, which follows the sale of shares previously owned by the Nakash company, is estimated to bring between $40 million and $50 million in new capital to the airline, with the official sale price set at $45 million. The Transport Workers Union, affiliated with the Histadrut, has declared a labor dispute with the company. The union cited unilateral actions by the new owners, such as efficiency measures and staff reductions, undertaken without consultation or agreement with worker representatives. Union officials expressed concern that these actions will significantly impact employees' job security, working conditions, and rights, potentially leading to the cancellation of flight routes and the company's inability to meet its financial obligations. Nir Eisenberg, Deputy Head of the Transport Workers Union, stated that if the Nakash brothers are no longer committed to Arkia, the time has come for new owners who believe in its future. He criticized the current management's actions for creating uncertainty for hundreds of employees and their families, asserting that Arkia's workers are not bargaining chips and that the Histadrut will not allow them to be held hostage by ownership disputes.
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