The Israel flag carrier El Al Airlines revealed that it opposes the purchase of a controlling stake by Eli Rozenberg, a 27-year-old Orthodox Jewish college student. The airline’s board has hinted suspicions that the young investor might be only a “straw man” for his non-Israel citizen father.

El Al Airlines board has requested the Parliament Finance Committee to reconsider giving the controlling stake of the carrier to Eli Rozenberg. The airline alleged that a young investor is a frontman for his father Kenny Rozenberg, who is not a citizen of the country as it is required by Israel law, reported by i24NEWS, Israel international news channel.

The Israel news broadcaster noticed, that the airline doubts whose interests are represented by the young investor. The question was raised due to the $15 million deposition made by Eli Rozenberg, which allegedly came from Rozenberg’s father’s account earlier in September 2020.

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A chapter in the painful saga of El Al Airlines financial downturn came to an end after the new offering of $150 million in shares was completed on September 17, 2020. A 27 year old Orthodox Jewish college student has secured roughly a 43% of stake in El Al Airlines. This means that the air carrier will have a new controlling party.
 

According to local Israel media, nobody from Rozenbergs, the Orthodox Jews from New York, has any known experience in the aviation business. The father is the New York based owner of a chain of nursing homes in the United States.

Having Israel citizenship is one of the preconditions to own the airline. In regards to this fact, El Al board speculated that the young investor attempted to become a new owner only to circumvent the rule. 

Earlier on September 17, 2020, Kanfei Nesharim Aviation, the company created by Eli Rozenberg, bought $107 million of shares of Israel’s flag carrier. This way, the Kanfei Nesharim Aviation secured a nearly 43% stake in El Al Airlines.