Israir pilots labour dispute

Lauren Eldershaw
By Lauren Eldershaw March 4, 2019 15:15

Israir pilots labour dispute

Israir pilots have declared a labour in a move designed to a possible sale of the carrier to businessman Yoav Golan. The declaration would enable them to strike after a two-week cooling-off period. Media reports state that the move is a reaction to the news that Golan was poised to buy Israir for $55 million in a leveraged deal after plans to sell the airline to Brown Hotels fell through. Reports further state that the acquisition by Golan will be financed by $40 million of bank debt and the remainder from a bond issuance by Israir. The pilots are concerned that raising such levels of debt would weaken the strength of the airline in a time of weakening economic and operating conditions.

Lauren Eldershaw
By Lauren Eldershaw March 4, 2019 15:15