Eli Lankri: “We will not allow airlines to provide a partial service to the residents of the city of Eilat and tourists”

Eli Lankri: “We will not allow airlines to provide a partial service to the residents of the city of Eilat and tourists”
Eli Lankri: “We will not allow airlines to provide a partial service to the residents of the city of Eilat and tourists”

El Al Airlines has announced that it is in talks to purchase Arkia shares in exchange for the allotment of the company’s shares to Arkia shareholders. The announcement was made by the airline to the stock exchange. Eilat Mayor Eli Lankri: “It is inconceivable that airlines will not fly to Eilat on Saturday.”

The company clarified that no agreement was signed between the companies. “No memorandum of understanding and / or binding agreement has been signed between the parties,” the statement said. “The negotiations are at the beginning. There is no certainty that the potential transaction will be crystallized and that a binding agreement will be signed between the parties, and to the extent that a binding agreement is signed, there is no certainty that all the approvals required by law to complete the potential transaction will be obtained.

If this transaction takes place, it should take the form of an “exchange of shares” – EL AL will purchase the Arkia shares in exchange for the allocation of EL AL securities to Arkia shareholders. The reason for this form of transaction is that El Al on the loss has no cash to make a standard purchase of Arkia shares.

Eilat Mayor Eli Lankri responded to the publications: “We will not allow airlines to provide a partial service to Eilat residents and tourists. It is inconceivable that airlines will not fly to Eilat on Saturday. We will do everything we can to create and increase competition between airlines.”

Source

Eli Lankri airlines provide partial service residents city Eilat tourists

 
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