Israel National NewsEconomy
Haredi Entrepreneur Offers to Buy Arkia Airline, Demands Shabbat Flight Ban
Summarized from Israel National News by baba
RightNeutral tone
Haredi entrepreneur Ezra Ungar has made a new offer to buy Arkia Airlines, conditioned on the airline ceasing all flights on Shabbat. His bid includes a $30 million investment and employee protections, but requires employees to significantly reduce their stake in the company. Employee representatives must decide quickly, as another buyer group has set a Monday deadline for an alternative offer.
The story in 5 lines · by baba
- Haredi entrepreneur Ezra Ungar is seeking to buy Arkia Airlines with a condition to end Shabbat flights.
- Ungar's offer includes a $30 million capital injection and employee protections, but requires employees to give up most of their shares.
- Employees, represented by Tut, have until Monday to present an alternative offer to an existing buyer group.
- Arkia Airlines is in urgent need of a significant cash injection to continue operations.
- The existing deal involves a $30 million investment from a group including Yariv Lerner and Kidan Dahari.
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