EL AL

[PlatinumGuy]

LY agrees to go ahead with the equity issuances by September 15th

The article says a few days after Sep 15

[noah32]

We had 3 round-trip tickets EWR-TLV for late July that were cancelled.
El Al is simply unreachable.
We filed a DoT complaint and just received this (see below).
Has anyone else been in this situation and can tell us what to expect?
Thank you.
(I hope I'm posting in the right place.)

*************

This responds to your communication regarding EL AL ISRAEL. The U.S. Department of Transportation seeks to ensure that all airline passengers are treated fairly. Complaints from consumers are helpful to us in determining whether the airlines are in compliance with our rules and to track trends or spot areas of concern that warrant further action.

Based on the information you have provided, your complaint appears to fall under the Department's rules. We will forward your complaint to the airline and ask the company to respond directly to you with a copy to us. Airlines are required to acknowledge receipt of a consumer complaint within 30 days and provide a substantive response to the complainant within 60 days. We will review the airline's response. If you need to contact me, please include your name and case number (see above).

If our review of your complaint and the response from the company discloses a potential violation of our rules, we may pursue enforcement action. Generally, we pursue enforcement action on the basis of a number of complaints which may indicate a pattern or practice of violating our rules. Your complaint may be among those considered and may lead to appropriate enforcement action including the assessment of civil penalties. However, we have no authority to order compensation for individual complainants.

We have entered your complaint in our computerized industry monitoring system, and it will be counted among the number of complaints filed against this airline in our monthly Air Travel Consumer Report. This report allows consumers and air travel companies to compare the complaint records of individual airlines and tour operators. The data in this report also serve as a basis for rulemaking, legislation and research. Consumer information for air travelers, including the Air Travel Consumer Report and our pamphlet Fly-Rights, a Consumer's Guide to Air Travel, can be found on our website: www.transportation.gov/airconsumer. Thank you for taking the time to contact us.

I received the same response last week. I think we just need to wait (up to) 60 days to hears ElAl's response.

[ae123]

I received the same response last week. I think we just need to wait (up to) 60 days to hears ElAl's response.

Do you think the new owners will honor prior tickets like ours?

[tavster]

Do you think the new owners will honor prior tickets like ours?

Yes

[tavster]

Link to LY equity raise roadshow presentation

Planning a 505-million shekel share offer during the coming week

https://mayafiles.tase.co.il/rpdf/1320001-1321000/P1320596-00.pdf

[yaakov35]

Are you sure?
I had in mind that besides de 747 Cargo mentioned above, (and I have a feeling it's leased) the rest of the fleet had been grounded and all pilots put on unpaid leave

Ly 33 bibis plane is a regular elal 777.

[chff]

Ly 33 bibis plane is a regular elal 777.

As always

[tavster]

Wake me up when an agreement is reached.

@Dan by tomorrow evening we should know who the new owner is. Then LY gets the State to guarantee the loans, and we're 'back in business'

https://en.globes.co.il/en/article-el-al-tase-150m-offering-to-go-ahead-tomorrow-1001342840

[ExGingi]

@Dan by tomorrow evening we should know who the new owner is. Then LY gets the State to guarantee the loans, and we're 'back in business'

https://en.globes.co.il/en/article-el-al-tase-150m-offering-to-go-ahead-tomorrow-1001342840

It ain't over 'till it's over.

[Shauly101]

if its public how does it work?

who gets to grab first? Rozenberg or Saphir?

[tavster]

if its public how does it work?

who gets to grab first? Rozenberg or Saphir?

There is a bidding process, whereby whoever bids for the larger amount of shares gets them.

According to the press rosenberg is happy to buy $100m worth of shares through the offering.

I don't believe Sapir was interested in taking part, as they wanted a private placement, which will not take place. That's also why Gurvitz said he won't take part in the bidding process. So it sounds like it's going to Rozenberg. But who knows

[tavster]

Looks like there is a new owner

https://en.globes.co.il/en/article-eli-rozenberg-only-bidder-in-el-als-tase-offering-1001343038

[jose34]

Wait... he did not actually buy it yet.

[tavster]

Wait... he did not actually buy it yet.

Before posting I've been trying to think what could go wrong from here. Can't think of anything 

[Shauly101]

Wait... he did not actually buy it yet.

meaning?  who has to approve his bid?

[tavster]

meaning?  who has to approve his bid?

No one. But we don't have the official results yet.

 The press just knows that the other 2 contenders said they wouldn't bid. Doesn't actually mean that someone else didn't bid

[tavster]

LY just announced that the offering was oversubscribed, with the full ILS 505 million having been raised.
The list of owners will be disclosed separately

[Shauly101]

LY just announced that the offering was oversubscribed, with the full ILS 505 million having been raised.
The list of owners will be disclosed separately

link? Source?

[CRACKERJACK]

for those not following the back and forth can we have the the whole story in short?
if its to much for you @tavster maybe @Dan can put it in the new years news roundup!?

[tavster]

link? Source?

That's the list of new owners: doesn't help since the major shareholder holds them through bank hapoalim

https://mayafiles.tase.co.il/rpdf/1321001-1322000/P1321567-00.pdf

And these are the results of the capital raise:

https://mayafiles.tase.co.il/rpdf/1321001-1322000/P1321566-00.pdf