Photo Credit: Moshe Shai / Flash 90
Archive photo of Israel's EL AL Airlines Boeing planes, parked at the Ben Gurion Airport in Lod, Israel, on March 16, 2018.

US businessman and Yeshiva student Eli Rosenberg has offered to buy control of El Al Airlines for $75 million, according to a report in Bizportal. The $75 million would be invested in the company, in exchange for an allotment of shares that would constitute 49.99% of the company.

To prove his seriousness, Rosenberg transferred $15 million to an account at Mizrachi Bank. But his offer has a deadline, the end of August.

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El Al’s board of directors had already approved a proposal for a $250 million loan with state guarantees from the Israeli Ministry of Finance, but the government’s proposal would end up nationalizing the airline. Rosenberg’s offer could change the board’s plans.

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