Yancale Shahar has been promoted to vice president and chief financial officer of El Al Israel Airlines.
Yancale served as director, company treasurer since 2006, where he managed a team of 10 treasury and fuel employees, and was responsible for facilitating strategy planning and raising capital for financing aircraft and other assets, as well as the company hedging policy and long-term debt management. Yancale and his team have led the financing for more than $2bn in aircraft acquisitions over the past few years. Yancale led the now-infamous “Jerusalem JOLCO” transaction in 2019, which won the Airline Economics Supported Finance Deal of the Year. The El Al financing team was also honoured in January this year with the Airline Economics Global Leaders Editor’s Award for Innovation for El Al’s sale of 20% of its Matmid FFP to the Phoenix company valued at approximately $500 million in combination with a $130 million loan.
Prior to joining El Al, Yancale was vice president and chief financial officer at Elad Group, Canada, which he joined in 2004. Yancale began his career with Bank Hapoalim in 1990 where he served as relationship management in the business division.