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El Al secures $130 million loan

Dino D'Amore
By Dino D'Amore Mar 21, 2022 0 mins read
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El Al secures $130 million loan

Israeli airline El Al has signed a non-binding deal for a $130 million loan from insurer Phoenix Group, which has an interest rate of 5.5% to 7%. El Al has pledged its Matmid frequent flier club as collateral for the loan. Phoenix will have an option to buy 25% of Matmid by the end of 2027. The deal...

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