El Al Israel Airlines is a well-established airline with a rich history dating back to 1949.
Founded by the Israeli government, El Al has been a symbol of the country's aviation industry.
El Al's fleet consists of Boeing and Airbus aircraft, with a total of 45 planes in operation.
El Al's main hub is Tel Aviv's Ben Gurion Airport, serving as a major transportation hub for the country.
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Al Ol – Going Public
In 2003, the Israeli government began to privatize Al Ol, slowly selling off shares to the public.
The process was completed in January 2005, when the investment firm Kefi Aviation Holdings became the majority shareholder.
Al Ol was no longer a fully government-owned company, but still held a significant stake in the Israeli aviation industry.
By 2020, the company had suffered significant losses due to the COVID-19 pandemic, and decided to re-nationalize by transferring 61% of the company's shares to the Israeli government.
The government ended up with 13% of the shares, while 15% remained with Kefi Aviation Holdings, and 40.57% were held by Eli Rozenberg.
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Mitzvah Al Ol – Owners
The ownership structure of El Al is quite complex, but let's break it down simply. As of 2020, the Israeli government acquired 61% of the company's shares, effectively taking control of the airline.
El Al also holds shares in other companies, with 3 different types of securities listed on the Tel Aviv Stock Exchange. These include a regular share, an option to buy shares, and a government bond share.
The largest shareholder after the government is Eliezer Rozenberg, who owns 40.57% of the company's shares.
Who are the Owners
The ownership of Mitzvah Al Ol has changed over the years. In 2005, a company called Kefi Yam Akhzakim became the majority shareholder.
Mitzvah Al Ol was initially fully owned by the government. However, in 2003, the process of privatization began, and shares were sold to the public. By 2005, Kefi Yam Akhzakim had become the majority shareholder.
As of 2020, the government decided to nationalize the company, transferring 61% of the shares and ownership to the Israeli government. Today, the government owns 13% of the shares, while 40.57% are held by a private individual named Eli Rozenberg.
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El El
El Al, Israel's number one airline, has been facing a tough time lately. The company's stock price has plummeted by 46% in the past three months.
The airline's struggles are largely due to the rising cost of fuel, which is a major expense for the company. In fact, the price of fuel has made it difficult for El Al to maintain its profit margins.
The "open skies" agreement between Israel and the EU in 2014 has also had a negative impact on the airline. The agreement allowed more flights to operate between the two regions, increasing competition for El Al.
Labor disputes have also been a significant issue for the airline. Pilots and maintenance workers have been on strike several times, disrupting flights and affecting the company's operations.
The COVID-19 pandemic has also had a devastating impact on the airline industry, with El Al being no exception. The pandemic led to flight cancellations, revenue losses, and a significant increase in costs.
El Al's struggles are a reminder that even successful companies can face challenges.
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