UAE firm to bid for Israir

Our Correspondent

A UAE-based firm, NY Koen Group, has announced plans to bid for Israir, Israel’s third largest airline, at an upcoming auction. The company said in a statement that it is excited about the potential purchase of Israir and the opportunities it will entail.

With the signing of a peace treaty in September, UAE and Israel are gearing up to start direct flights. Israir operates scheduled and chartered flights to various destinations across Europe; it flies over a million passengers per year on both international and domestic flights.

“On the heels of the United Arab Emirates – Israel normalisation agreement, known as the Abraham Accords Peace Agreement, investment in Israeli aviation by a UAE-based business would help cement the peace accord,” it said.

Developing Israir will help the airline to expand operations in the area, the company said.

NY Koen has a business aviation unit called Aero Private Jet which works closely with large operators as well as private owners of business jets across the globe; it has access to over 7,000 planes and 4,000 airports.

Israir is planning flights to Dubai and Abu Dhabi, though direct flights between the two countries may materialise only in 2021 owing to COVID-19 restrictions and sluggish demand.