Belive it or not, EL AL is going to buy Airbus a/c
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Belive it or not, EL AL is going to buy Airbus a/c
I will belive it, when I see it:
By Haaretz, 17.04.2006.
El Al to go the Airbus route for first time
By Zohar Blumenkrantz
National air carrier El Al has decided for the first time to by Airbus airplanes instead of purchasing from Boeing. TheMarker has learned that a delegation of high level executives from the European consortium is about to sign a contract and financing arrangements with the heads of the Israeli airline.
A series of meetings, held under a veil of secrecy, ended Tuesday night at the Ramat Hahayal offices of the Borovich Mozes Group.
It was agreed that Airbus financial experts will come to Israel immediately after Passover to iron out financial details of the deal. Airbus has not succeeded in selling airplanes to El Al until now, with the national carrier always opting for U.S.-made Boeing aircraft.
According to the plan drafted last week in the secret meetings, El Al will buy eight A-330 Airbus aircraft, which will replace Boeing 767 passenger jets. The deal, including spare parts, is estimated at $500 million.
Banks associated with the European Union will provide credit to finance the deal, in a similar fashion to the credit El Al has received in the past for deals with Boeing. The loans and credit will be repaid over a 14-year period.
Airbus committed to a three-year delivery schedule from the date the deal is signed.
The deal is subject to the approval of the El Al board of directors as well as the board of the Airbus consortium.
http://www.haaretz.com/hasen/spages/706003.html
By Haaretz, 17.04.2006.
El Al to go the Airbus route for first time
By Zohar Blumenkrantz
National air carrier El Al has decided for the first time to by Airbus airplanes instead of purchasing from Boeing. TheMarker has learned that a delegation of high level executives from the European consortium is about to sign a contract and financing arrangements with the heads of the Israeli airline.
A series of meetings, held under a veil of secrecy, ended Tuesday night at the Ramat Hahayal offices of the Borovich Mozes Group.
It was agreed that Airbus financial experts will come to Israel immediately after Passover to iron out financial details of the deal. Airbus has not succeeded in selling airplanes to El Al until now, with the national carrier always opting for U.S.-made Boeing aircraft.
According to the plan drafted last week in the secret meetings, El Al will buy eight A-330 Airbus aircraft, which will replace Boeing 767 passenger jets. The deal, including spare parts, is estimated at $500 million.
Banks associated with the European Union will provide credit to finance the deal, in a similar fashion to the credit El Al has received in the past for deals with Boeing. The loans and credit will be repaid over a 14-year period.
Airbus committed to a three-year delivery schedule from the date the deal is signed.
The deal is subject to the approval of the El Al board of directors as well as the board of the Airbus consortium.
http://www.haaretz.com/hasen/spages/706003.html
