Son of millionaire US businessman makes £58m bid for stake in El Al Airlines
Eli Rozenberg's bid would give him a 45 percent stake in the airline, and as an Israeli citizen, he'd be eligible to become the controlling shareholder
Eli Rozenberg, the son of millionaire U.S. businessman Kenny Rozenberg, has made a £58m ($75 million) bid to acquire a large stake in El Al Airlines.
Rozenberg, 30, is a resident of Israel and an Israeli citizen, which makes him eligible to become the controlling shareholder of the airline.
His bid would give Rozenberg a 45% stake in the airline, the Israeli business daily Globes reported. The offer comes through a company the younger Rozenberg owns in Israel.
The airline, known as Israel’s flagship carrier, has been laid low by the coronavirus pandemic.
A government bailout package accepted by the airline last week would include a government-backed loan and a stock offering on the Tel Aviv Stock Exchange. Under the bailout, the state would retain a 61 percent stake in the airline, leading again to its nationalisation. The airline was privatised in 2004.
At the end of June, El Al canceled all passenger flights through the end of the month, as well as cargo flights and other special passenger flights to specific destinations, Globes reported.
Most of El Al’s pilots and other employees are on leave without pay due to the pandemic and a dispute between the airline and its pilots.
Kenny Rozenberg, who lives in New York, owns the Centres Health Care, a national chain of nursing homes and affiliated services in the United States.
Keep community journalism free.
Jewish News is free for everyone. No paywall. No barriers. Just trusted journalism for anyone who wants to stay connected to Jewish life in Britain.
If you value that, please support us.
From as little as £5 a month, you can help keep our journalism free and accessible to all.
Every day, we report on the issues that matter to our community. We celebrate achievements, support charities, challenge antisemitism and ensure Jewish voices are heard more widely.
From as little as £5 a month, you can help us continue to:
- Report on the stories shaping Jewish life in the UK and beyond
- Bring our community together through shared stories, events and campaigns
- Celebrate the people, culture and moments that define our community
- Support organisations doing vital work across Jewish Britain
You can make a one-off donation or become a regular supporter. Every contribution helps keep our journalism free, independent and accessible to all.
If everyone who values Jewish News gave a small amount, it would make a real difference to our future.
