Author Topic: EL AL  (Read 42099 times)

Offline tavster

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Re: EL AL
« Reply #450 on: July 27, 2020, 08:54:05 AM »
Dear Mr. ******
We would like to update you, your tickets in booking ****** were refunded to the credit card used. It is possible that the actual refund may be posted may be posted afterwards.
We thank you for your patience.

Sincerely,               
Customer Relations
EL-AL ISRAEL AIRLINES LTD
That was though DOT?

Offline JuryDuty

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Re: EL AL
« Reply #451 on: July 27, 2020, 08:54:31 AM »
Dear Mr. *******

Thank you for contacting El Al via U.S. Department of Transportation.

We are sorry to learn of the inconvenience that you and your family were caused due to the changes that were made to the operation of our El Al flights as a result of the Coronavirus crisis.

It is important to update you that due to the recent events related to the coronavirus, our offices are still temporary closed, and the work is made on an emergency basis only.

Despite the above, we have forwarded your refund request to our accounts team. We will update you when refund processing of your tickets in EL AL booking code ****** is made.

We do ask for patience and understanding during these challenging times.

Sincerely,               
Customer Relations
EL-AL ISRAEL AIRLINES LTD
Jury Duty: A time with nothing to do but chill and write a TR. Kinda like the beach without a view and an ocean breeze.

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Offline tavster

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Re: EL AL
« Reply #453 on: July 28, 2020, 05:12:04 PM »
This airline is an embarrassment.

Good summary in Haaretz today


El Al owners fight to retain control   (Haaretz) -- Just six weeks ago it looked as if the treasury was ready to put an end to the El Al Airlines farce. Just before he stepped down as the ministry’s director general, Shai Babad presented a revised rescue plan for the ailing airline. Its main feature was the government’s commitment to buy whatever portion of a $150 million share offering the public wouldn’t buy.
     Given El Al’s desperate financial situation and its shrinking market capitalization, that promise would leave the State of Israel holding as much as 61 per cent of the carrier’s stock, thereby nationalizing it after 16 years in private hands.
     The chances that Tami Mozes Borovitz would be able to retain control of El Al were slim, especially given her poor record running the airline before the coronavirus brought it to its knees. When Eli Rozenberg, the scion of a New York nursing home fortune, emerged as a potential buyer that chance disappeared entirely. Rozenberg offered to pay $75 million in exchange for being allocated 44.99 per cent of El Al stock. Mozes Borovitz would be diluted to just 26 per cent from 28 per cent today.
     But now it increasingly looks as if she will retain control of El Al after all. The airline will get the $250 million government-guaranteed loan on offer (the other component of the treasury rescue plan) long before she moves forward with the share offering that dilutes her stake. She won’t have to put a penny of her own capital into the airline.
     Meanwhile, the Histadrut labor federation is giving her a helping hand by forcing El Al’s pilots to agree to wage reductions that will save the airline between $110 million and $140 million annually, depending on who you ask.
     In the midst of a severe liquidity crisis, El Al has been pressuring the Finance Ministry to let it take the $250 million loan already in the next few days. It notes that under recently passed legislation it needs the cash to pay ticket holders whose flights were cancelled due to the coronavirus.
     If the treasury consents, it will mark a complete reversal of what its new director general, Keren Terner-Eyal said just last week in a letter to the airline’s board, namely that the state “will provide the guarantees only after the public share offering and the company’s receiving the proceeds.”
     El Al is pulling all the political strings it can to reverse Terner-Eyal’s stand. It not only wants to get the guarantees immediately but to remove the condition that the share offering takes place. It contends that Terner-Eyal’s timeframe is unrealistic. She wants the offering to be completed by the end of August, much earlier than the end-October deadline that had been set by Babad.
     El Al owes ticket holders some $300 million, which it must begin repaying either by August 14 or within 90 days of the cancelled flight, whichever is later. It’s estimated that the airline will have to come up with $60 million of that sum in the final two weeks of the month.
     The treasury is insisting that the share offering take place no later than September 17 because after that date the High Holidays begin and it will be difficult to raise money. El Al is saying that if the Finance Ministry isn’t willing to let it borrow the whole $250 million, then it should at least let it borrow $60 million to repay ticket holders. If not that, then it wants to be able to withdraw excess money it contributed to the company pension fund, which amounts to about $67 million.
     It’s also lobbying the Knesset Economics Committee to push back the deadline for beginning to repay ticket holders by two weeks.
     Delays in granting Rozenberg and his self-appointed trustee, Harel Locker, a license to control the airline is another factor working in favor of Mozes Borovitz’s campaign to retain control of El Al. After retracting a decision to halt the process of examining his application, the Government Corporations Authority has been moving it forward at a snail’s pace. Rosenberg’s offer is becoming more irrelevant by the day.
     On Monday, El Al itself erected a new obstacle for Rozenberg: The company’s attorney, Avigdor Klagsbald, notified Rozenberg’s lawyer that the airline could not respond materially to his offer, among other reasons, because it is unclear whether it is Rozenberg himself or his father, Kenny, who is really the investor. Therefore, Klasgbald said, he would need the approval of a general shareholders meeting, which can only be called on 35 days’ notice. If so, Rozenberg’s end-of-August deadline for El Al to accept his offer renders the offer null.
     Sources close to Rozenberg reacted angrily, saying that instead of calling him to a meeting to discuss his offer to rescue the airline, the board is raising baseless technical problems and pressuring the treasury. They noted that El Al could seek a court order cutting the shareholders’ meeting notice time. Such requests are made routinely.
     Klagsbald’s letter shows the board isn’t interested in seriously entertaining Rozenberg’s offer, they said. In addition, they noted, Rozenberg has already reached an understanding with the pilots that would award them share options in exchange for wage cuts, but the source said, Mozes Borovitz has since been trying to drive a wedge between the two sides.
   

Offline yochai

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Re: EL AL
« Reply #454 on: July 28, 2020, 05:23:07 PM »
This airline is an embarrassment.
Totally agree. Can’t wait for the day they go bankrupt!

Offline tavster

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Re: EL AL
« Reply #455 on: July 29, 2020, 02:10:28 AM »
According to Calcalist, Larry Mizel is also about to make a bid

https://www.calcalist.co.il/local/articles/0,7340,L-3842318,00.html
« Last Edit: July 29, 2020, 02:40:05 AM by tavster »

Offline Mikes@Micro

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Re: EL AL
« Reply #456 on: July 29, 2020, 02:15:29 AM »
Quote or engagement  equals full throated endorsement and vote!
H/t PinchosL

Offline tavster

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Offline avadah

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Re: EL AL
« Reply #458 on: July 30, 2020, 03:29:09 PM »
Totally agree. Can’t wait for the day they go bankrupt!
NO! Let me get my refund first!

Offline tavster

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Re: EL AL
« Reply #459 on: August 03, 2020, 03:31:54 PM »
LY gets extra time to refund tickets

    (Haaretz) -- El Al Airlines was thrown a financial lifeline on Monday after officials agreed that Israeli airlines would only be required to refund ticket holders for flights canceled due to the coronavirus pandemic by October 1.

     The agreement between Economy Minster Amir Peretz, Justice Minister Avi Nissenkorn and Transportation Minister Miri Regev means that financially troubled El Al will can repay the 1.1 billion shekels ($320 million) it owes ticket holders much later than required under legislation passed by the Knesset last month.

     The new deadline, which applies to Israir and Arkia as well as El Al, still needs to be approved by the Knesset.
     Under an amendment to the Airlines Law approved by the Knesset in July, carriers had been required to refund money 90 days after a flight is canceled or 30 days after the legislation was passed, whichever is later. That meant that the first refunds were due to be paid on August 14.

     The new agreement says that only airlines that have suffered a drop of 70% or more in their traffic can wait to refund ticket holders until October 1. Otherwise, they must return the money immediately. In El Al’s case, if it reaches a rescue agreement with the government and issues shares, it also must refund the money immediately afterward.

     El Al has agreed to a treasury plan under which it will be entitled to $250 million in government-guaranteed loans on condition that it raises $150 million in equity capital via a share sale to the public. That offering is expected to take place in late August or early September. El Al is expected to file a prospectus by the end of this week.
     -0- Aug/03/2020 19:29 GMT

Offline pomy100

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Re: EL AL
« Reply #460 on: August 03, 2020, 05:38:32 PM »
Goddamn I’ve been waiting since March

Offline tavster

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Re: EL AL
« Reply #461 on: August 04, 2020, 02:36:27 AM »
There probably is a fair amount of Israeli pilots who can be hired. The Elal jobs are extremely lucrative and in short supply
Very lucrative indeed

https://www.jpost.com/israel-news/el-al-pilots-earn-on-average-nis-95000-per-month-637414

Offline tavster

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Re: EL AL
« Reply #462 on: August 04, 2020, 12:49:31 PM »

Offline Pinay

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Re: EL AL
« Reply #463 on: August 09, 2020, 07:34:13 PM »
I Received the following e-mail from Chase Ultimate Rewards regarding the cancelled return leg of an El Al Ticket purchased with Chase Ultimate Rewards Points to bring my son home from Yeshiva in March, what should be my next step?

Hello MY NAME,
Thank you for allowing Chase Ultimate Rewards Travel to address this matter. We apologize for any inconvenience you’ve experienced due to the delay in the refund process.
We have completed our investigation and have made the following determination.
After review of your account and the case details, we have found a flight with EL AL Israel Airlines scheduled for March 15th returning on April 26th. Upon review we have confirmed that the airline initiated a schedule change which resulted in the return flights being cancelled by the airline. We apologize for this inconvenience and we have submitted a refund request for the unused portion of the flight. Since the airline has inhibited our ability to offer a direct refund, the refund is ultimately up to the airlines discretion to complete. We see that a partial refund request has been submitted to the airline on 6/4, 6/8, 6/17 and 6/29, now these request normally can take the airline up to 10 weeks to review and determine if a refund is eligible, however due to the overwhelming number of refund requests this process could take longer for the airline to determine what the value of the unused portion of the flights is and complete the refund. We must wait until the airline has completed the partial refund for this flight, so we are able to complete the refund for your reward points to your account. If the airline declines to offer a refund for the unused portion of the flight a travel voucher may be an alternate option to retain the value of the return flight to be used towards a future booking with EL AL Israel Airlines. The details of this would be provided if the airline declines to complete a refund for the unused value of the flight. Please be assured we are working very hard to ensure that we can process a refund where the supplier has allowed us to and offer a supplier credit in certain other circumstances. We will provide you an update as soon as the airline has the opportunity to review and respond to our refund request.
Please accept our apologies for the inconvenience. While we are unable to provide the requested compensation at this time, please know we value you as a Cardmember and appreciate your business. We regret we are unable to provide you with a more favorable response.
If you have any questions, please call 1-888-511-5323 and request a supervisor. We’re available 24 hours a day, 7 days a week.
We look forward to helping you with future travel plans.
Thank you for choosing Chase Travel.

Sincerely,
Jason Smith
Travel Consultant Supervisor
Chase Travel

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Offline yandmk

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Re: EL AL
« Reply #464 on: Yesterday at 05:02:56 AM »
I Received the following e-mail from Chase Ultimate Rewards regarding the cancelled return leg of an El Al Ticket purchased with Chase Ultimate Rewards Points to bring my son home from Yeshiva in March, what should be my next step?
There isn't much to do besides patiently wait (and file a claim with the DOT, if you haven't yet)