Dubai: UAE-based NY Koen Group said it will be making a bid to acquire Israir, Israel’s third-largest airline, at an upcoming auction. The deal comes as UAE and Israel gear up to start direct flights between the two countries.
“NY Koen Group is excited about the potential purchase of Israir and the opportunities this presents,” the company said in a statement.
NY Koen’s business aviation unit Aero Private Jet works closely with the largest operators and private owners of business jets across the globe and has access to over 7,000 planes and 4,000 airports. The company sees the acquisition as a way to expand their services, the statement said.
Meanwhile, Israir operates scheduled and chartered flights to various popular destinations across Europe - and flies over a million passengers per year on both international and domestic flights.
Israir plans UAE flights
Israir is planning to start flying to Dubai and Abu Dhabi soon. NY Koen Group is in a “unique position” to develop Israir and allow the airline to expand its operations in the area, the company said.
“On the heels of the United Arab Emirates - Israel normalization 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.
According to an Israeli government official that Gulf News spoke with, direct flights between UAE and Israel may not start until January 1 as COVID-19 restrictions continue to affect demand.
The start of commercial flights is expected to be a game changer for UAE’s airlines, who have been hit hard by the pandemic. The deal will lead to a new stream of travellers that could help Dubai and Abu Dhabi partly bounce back from the crisis.