MIAMI – It has come to light that Israeli businessmen Rami Levy and Shalom Haim are interested in purchasing Israir Airlines (6H). According to several media, both parties already submitted a US$20.4m bid for the carrier.
Levy and Haim made the offer. under the BGI Investments company. Both have equal control in the business. Apart from the bid, the deal includes that BGI acquires all shares of 6H. In turn, the airline would cancel a US$5m debt that its current owner, IDB Group, owes the carrier.
But the IDB Group could decline such payment to wait for other more attractive ones in the accurate recovery time. The Globe reported that several sources said the carrier expects to receive additional offers in the next days.
An Increased Purchase Interest
In the past, Levy expressed interest in purchasing El Al Israel Airlines (LY). The Jerusalem Post thus suggests that Levy could possibly seek a possible future merger between 6H and LY.
Despite the IDB Group is undergoing bankruptcy, the airline has a history of overcoming the crisis. In March, 6H’s revenues dramatically went down, but it has remained operational during the pandemic opposite to other Israeli airlines, like LY, which stopped all operations. In fact, 6H’s value position would increase as more purchase offers are soon to come.
Featured photo: Israir Airlines Airbus A320-232. Photo: Fabrizio Berni.