Full coverage· Economy· Updated 06:00

Arkia Airline Changes Hands in $45 Million Investor Deal Amid Financial Woes

Arkia Airlines is being sold by the Nakash brothers to an investor group led by Yariv Lerner for $45 million, ending 21 years of Nakash family control. The airline has faced significant financial difficulties, including over $30 million in losses this year.

2 newsrooms · 2 languages · since 04:08

Plus

Arkia Airline Changes Hands in $45 Million Investor Deal Amid Financial Woes — Illustration by baba

What happened

01Arkia Airlines is sold by the Nakash brothers to an investor group led by Yariv Lerner for $45 million.
02The new investors will inject $45 million to stabilize Arkia, which has reported over $30 million in losses.
03Employee approval is a condition for the deal, as they hold 20% of Arkia's shares.
04The Nakash brothers will retain a 3% minority stake in the airline.
05The deal marks the end of 21 years of Nakash family ownership of Arkia.

A major hurdle is reaching an agreement with employees, who hold 20% of the shares and are seeking to retain their rights, making the deal contingent on their approval.

Translated and summarized by baba from Calcalist, the latest report. Read Calcalist’s original