El Al Israel is now controlled by Eli Rozenberg under his company Kanfei Nesharim, following a decision by the State of Israel to grant him control of the company. However, the new owner – a 26-year-old yeshiva student – is not allowed to ask his father, US-based businessman. As Kenny Rozenberg is not an Israeli citizen he is prohibited from owned a controlling stake in the national airline. The father did however provide the funds for Kanfei Nesharim to purchase 42.9% of the airline stock for approximately $103 million.
The State of Israel bought 14% of the stock, and is also now willing to support 75% of an expected $250 million lifeline loan for the airline.
Eli Rozenberg is required to hire staff with at least five years of experience in the field and is also prohibited from any of his blood relatives from holding positions in the company and from selling his stocks to his father nor can his company sell more than 5% of its stocks without the approval of the Israeli authorities.