Dubai-based Al Habtoor Group, owned by one of the largest companies in the UAE, is interested in acquiring Israir Airlines and Tourism Ltd., sources inform "Globes." Al Habtoor is owned by the Al Habtoor family, one of eight families that control the UAE economy.
As first reported by "Globes," Israir CFO Assaf Zur flew to Dubai earlier this week to meet with an interested buyer. Sources close to the matter say that Al Habtoor is "very serious" about the acquisition.
Al Habtoor, headed by chairman Khalad Ahmad Al Habtoor, has businesses in the hospitality sector and announced recently that it is making kosher food available in its hotels with 24/7 room service. Al Habtoor has 14 hotels - seven in Dubai and the others in the US, UK, Austria, Hungary and Lebanon.
Israir declined to comment on the report.
Al Habtoor is not the only UAE company interested in buying Israir. Dubai-based NY Koen Group has also announced that it is bidding in the auction for Israir. Bids must be submitted to Adv. Ophir Naor who was appointed trustee of financially troubled 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. But "Gulf News" has reported that NY Koen values the airline at $70 million.
Published by Globes, Israel business news - en.globes.co.il - on October 22, 2020
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