EL AL sells 12 Pratt & Whitney engines

El Al Israeli Airlines has agreed to sell 12 Pratt & Whitney 4056-3 engines to a major company. A stock filing states that once the deal has been completed the airline stands to make an estimated capital gain of approximately $30 million before tax. The deal is still subject to a technical examination of the engines and documents to the satisfaction by the buyer, which are expected to take place over the next few months, that may cause an adjustment of the assessed profit. EL Al’s share price rose 7% on the news.