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Israir Acquires Airbus A320 for $17 Million as Part of Expansion Plan
Israir is purchasing a leased Airbus A320-200 for $17.05 million as part of a strategic growth plan to expand its fleet and reduce reliance on leasing. The acquisition is expected to save the airline millions annually, though it requires significant engine maintenance costs in 2027.
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What happened
- 01Israir will buy a leased Airbus A320-200 for $17.05 million, with the deal closing in November.
- 02The acquisition is expected to save Israir $3 million annually and increase profits by $1 million yearly.
- 03An additional $11 million is budgeted for engine maintenance in the first half of 2027.
- 04Israir aims to operate ten narrow-body, five wide-body, and two private jets by 2030.
- 05Controlling shareholder Rami Levy is also considering buying Arkia Airlines.
- 06The potential Arkia purchase could significantly alter Israel's aviation market structure.
This move occurs as controlling shareholder Rami Levy also considers acquiring Arkia Airlines, potentially consolidating ownership of two Israeli carriers.
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