Rami Levy and the issuance of Israir (photo by Marcelo, Magma Images, shutterstock)
Israir, the airline owned by businessman Rami Levy, announced today (Thursday) in a notification to the Stock Exchange that it had signed a binding agreement for the sale of two 500-ATR72 aircraft, following a report from November 2, 2022 regarding Israir’s signing of the subsidiary’s entering into a memorandum of understanding for the sale of two The 500-ATR72 planes that it owns, a fact that will result in the aircraft fleet being made up of A320 Airbus planes.
According to the announcement: “The subsidiary signed a binding agreement for the sale of the two 500-ATR72 aircraft owned by the subsidiary to a foreign airline that has no business relationship with any of the officers and/or controlling owners of the company and/or the subsidiary in accordance with the provisions of the agreement, subject In order to meet standard conditions, the buyer will complete the purchase of the two ATR aircraft in exchange for a total of 13 million dollars.”
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The agreement states that its completion is subject to the existence of several conditional conditions, as is customary in transactions of this type, such as receiving all the approvals required by law to carry out the aforementioned transaction, confirmation from the subsidiary that the ATR aircraft are transferred free of any encumbrance, completion of an inspection and test flight for the ATR aircraft, The compliance of the aircraft’s condition to that agreed upon by the parties, with the deadline for compliance with the suspension conditions being February 28, 2023.
The transaction includes commitments to deposit deposits on behalf of the buyer in order to complete the transaction. Also, Israir reached an understanding with ATR1, in the way that a bank corporation payment in connection with the updating of the terms of the aircraft loan in Black, the balance of the loan of all the aircraft owned by the company, which is estimated as of this immediate report, for a total amount of about 7.14 million dollars, the subsidiary company has a role in The banking corporation pledged a deposit of approximately 4 million dollars, which will bear an annual interest rate of 7.6%.
The company anticipates that the subsidiary’s aircraft fleet will consist of 6 Airbus A320 aircraft, when with and subject to the sale of the 500-ATR72 aircraft, the subsidiary will act in favor of retraining the 500-ATR72 pilots to fly the Airbus A320 aircraft, a fact that it has improve the efficiency of the subsidiary.
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