EL AL Israel Airlines has signed two major agreements aimed at strengthening its business foundation and long-term strategy, the airline's CFO Gil Feldman said today (March 27).
The airline signed a 10-year partnership agreement with Isracard for its frequent flyer club membership. Under the deal, Isracard will issue FLY CARD credit cards. The deal is expected to add over 100 million Israeli shekel ($31.8 million) annually on average to the club's profitability.
"The agreement creates a strong, stable and long-term revenue stream, reinforcing the financial resilience of the Group and supporting our continued investment and strategic plans," said Feldman.
Additionally, the airline signed new collective labour agreements with its employee committees.
The agreements extend existing arrangements, support the integration of new aircraft fleet, and introduce “essential operational flexibility”.
“In an environment of ongoing uncertainty, operational stability and strong labor relations are not just important — they are essential,” said Feldman.