The Jerusalem PostEconomy
Arkia Employees Seek Investor to Counter $45 Million Sale Deal
Summarized from The Jerusalem Post by baba
Center-rightCharged tone
Arkia employees are racing to find a new investor by Monday to counter a $45 million deal to sell the airline to a private group. The employees' corporation has a deadline to match the offer, which includes a significant cash injection. This comes after rival Israir had previously explored acquiring Arkia. The airline faces financial difficulties, with estimated losses projected for the year.
The story in 5 lines · by baba
- Arkia employees must find a rival investor by Monday to counter a $45 million sale deal.
- The current deal involves a $45 million injection into Arkia, with a buyer group taking control.
- Rival airline Israir had previously been in talks to acquire Arkia.
- Arkia is facing significant financial losses, estimated between $50 million and $60 million for the year.
- The employees' union has declared a labor dispute over concerns about workforce cuts and route cancellations.
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