Kenny Rosenberg, the frum nursing home magnate who bought a controlling share of El Al Airlines, has increased his stake in the company from 44.95% to 49.95%, with the additional shares purchased at a price of 4.20 shekels.
Rosenberg became the airline’s controlling shareholding in 2020 when he bought 360 million shekels worth of its stock in a Tel Aviv Stock Exchange (TASE) offering intended at saving the failing airline from collapse due to the Covid pandemic.
He subsequently infused an additional 160 million shekels into the company for additional shares.
Rosenberg’s new shares were bought from Israel’s government, which saw its stake in the airline fall from 11.80% to 10.13%, as well as the Borowitz family, whose shares of the company decreased from 6.19% to 5.24%.
According to reports, Rosenberg has lost hundreds of millions of shekels on his investment to date, but is banking on a resurgent tourism boom to make his investment profitable.
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8 Responses
His name is spelt “Rozenberg”.
I think Doron Gainsburg made EL AL “Ze” company of the year!
their service is still very hostile to frum passengers in particular chareidim with children, thats why my entire family avoids this airline.
lakewoodbt , please refrain from any LH against this airline as it can effect business. I know the owner and he is truly nothing short of a massive mentch who does chessed all day long.
anshuldix I understand since YOU know the owner, my experiences cannot be validated and therefore I should go fly with an airline that charges more for worser service, simpler solution would be to have their staff not treat black hatters as 2nd rate customers. no one ever said he is not a baal chesed btw.
My experiences with ElAl have been great since the Rozenbergs took over – that is since Covid began. We’ve flown with them many, many times and their service has been nothing short of most pleasant. There are some who feel that the aircraft is there shul or their pool hall and that they can stand and walk about as they wish. They may not feel so comfortable and they are free to fly United, American, British or even Lufthansa. They will not get better service there.
we love you Kenny!
lakewoodbt – fly with whomever you want –
but what with the Issur of LH ???