Dubai-based NY Koen Group to bid for Israir

Israir Photo: Moni Shapir

NY Koen Group says it "looks forward to inheriting the Israir brand and legacy."

Dubai-based NY Koen Group has announced that it will bid to acquire Israir Airlines and Tourism Ltd..

In announcing that it, "will be making a bid to purchase Israir, Israel's third-largest airline, at the upcoming auction," the UAE company added, "NY Koen Group is excited about the potential purchase of Israir and the opportunities this presents. Aero Private Jet, a subsidiary of NY Koen Group, has a great deal of experience in the field of business aviation and sees the purchase of Israir as a chance to expand their services. Through the years of experience the company's subsidiary has accrued, and NY Koen Group's reputation in the area, Israir stands to gain a great deal should they succeed in purchasing the company."

Describing Israir as the third biggest airline in Israel and the biggest tour operator, NY Koen Group said, "The company specializes in curating packages in the Mediterranean and Europe for middle class Israelis, both individuals and groups. Israir is a one stop shop for all flights, hotel bookings, transfers and other ground services. The airline offers highly competitive rates and places a great emphasis on offering a peerless customer service. Israir operates scheduled and chartered flights to various popular destinations across Europe - and flies over a million passengers per year on both international and domestic flights. The company has built a great reputation for itself over the years, and NY Koen Group looks forward to inheriting the Israir brand and legacy that comes with it."

NY Koen Group's Aero Private Jet is a business aviation company with access to 7,000 aircraft and 4,000 airports.

The auction for companies wishing to buy the airline closes on November 8 according to Adv. Ophir Naor who was appointed by the courts as trustee for parent company IDB Development. So far the only bid to buy the airline has come from Rami Levy and Shalom Haim who have offered NIS 70 million. Levy and Haim (through his private company Taaman) hold equal shares in Shay Odem, which holds 67.7% of BGI Investments (1961) Ltd. (TASE: BGI). BGI Investments announced today that it would bid to buy Israir in a combined deal with Shay Odem or its owners Rami Levy and Taaman.

Sources inform "Globes" that investment organizations in Israel and aborad are interested in buying Israir and some have already been in contact with the company's CEO Uri Sirkis.

Published by Globes, Israel business news - en.globes.co.il - on October 13, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Israir Photo: Moni Shapir
Israir Photo: Moni Shapir
Omri Cohen and Michal Raz-Chaimovitz
 
 
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