What Is Happening With Israir?

The Israeli carrier Israir has seen a lot of developments in the last month. Currently, the carrier is in the process of taking bids for new ownership and has also been operating a brand new service between Tel Aviv and Dubai. Let’s look at everything that’s happening right now for Israir.

Israir A320
Israir is Israel’s 2nd largest airline next to El Al. Its fleet consists of just seven aircraft. Photo: Bram Steeman via Wikimedia Commons

Taking bids for new ownership

The leisure carrier has been taking bids after the airline’s holding firm IDB Development Corp. was deemed insolvent. Israir’s bondholders won control of the airline, and a court-appointed trustee has been managing the sale of the company.

According to The Times of Israel, bids from the UAE were rising due to the start of operations to Dubai. Originally bids had to be submitted by November 8th, however, it appears that this deadline had been extended.

This saw a UAE-based businessman by the name of Naum Koen offer $50 million for the airline. “This is the type of purchase that could be the start of something amazing…Hopefully, it would encourage many other business collaborations between Israel and the United Arab Emirates,” Koen said in the statement.

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Israir, UAE Flights, Peace Deal
Israir has just four Airbus A320 aircraft. Photo: Getty Images

On December 2nd, Globes reported that IDB Development trustee Ophir Naor chose a bid by BGI Investments. Naor’s report requests that the court approve the BGI bid to acquire Israir and its subsidiaries Sky Deal, Natour, and Diesenhaus. The offer stood at roughly $23 million in cash, as well as a commitment to forego $5 million that IDB owes Israir. The deal was to be conducted as an offer to purchase, valid until December 6th.

In the past 24 hours, FlightGlobal has reported that BGI is leading the race for the airline. Meanwhile, prospective bidders for Israir are continuing to tweak proposals despite Naor’s clear preference for BGI. We’ll have to wait and see who’s bid is officially selected.

Regular service to Dubai

It’s been just under a week since the carrier began its regularly-scheduled service between Tel Aviv and Dubai. Dubai International Airport welcomed the first commercial flight from Tel Aviv on December 1st at 17:10 local time. According to Arabian Industry, Flight 6H663 had 166 passengers on board. Their arrival in Dubai makes Israir the first Israeli carrier to operate a commercial flight into Dubai.

Israir to Dubai
The flight path of Israir’s 6H663. The carrier has flown four times since the first flight on December 1st. Photo: FlightRadar24.com

Since the historic flight on December 1st, Israir’s 6H663 service has also flown on December 2nd, 4th, and 5th. Another flight is expected to take place today, at 09:40 local time.

FlightRadar24.com shows that the carrier will be flying to two destinations in the next week. One is a domestic service from Tel Aviv to Eilat-Ramon Airport, while the other has the carrier flying to Kigali, Rwanda, on December 10th.

Have you ever flown with Israir before? Do you have any thoughts on its change in ownership? Let us know in the comments.

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