October 19, 2008
El Al Israel Airlines said on Sunday the buyer for one of its Boeing 767-200 long-range aircraft had pulled out of the deal.
"The buyer notified the company it cannot meet the payment for the plane due to difficulties in obtaining bank financing," El Al said in a statement to the Tel Aviv Stock Exchange.
El Al had said in July it was selling two 767s for a total of USD$13 million, one to an airline in the Philippines and the other to an investment company in Singapore.
The sale of the plane to the airline in the Philippines has been completed for USD$6.5 million, El Al said, adding it will post a pre-tax capital gain of USD$4.7 million in the third or fourth quarter.
Earlier this year, El Al ordered four Boeing 777-200ER planes for USD$540 million.
A year ago, El Al said it would like to replace its 767 jets with newer 787 aircraft.
(Reuters)
El Al Israel Airlines said on Sunday the buyer for one of its Boeing 767-200 long-range aircraft had pulled out of the deal.
"The buyer notified the company it cannot meet the payment for the plane due to difficulties in obtaining bank financing," El Al said in a statement to the Tel Aviv Stock Exchange.
El Al had said in July it was selling two 767s for a total of USD$13 million, one to an airline in the Philippines and the other to an investment company in Singapore.
The sale of the plane to the airline in the Philippines has been completed for USD$6.5 million, El Al said, adding it will post a pre-tax capital gain of USD$4.7 million in the third or fourth quarter.
Earlier this year, El Al ordered four Boeing 777-200ER planes for USD$540 million.
A year ago, El Al said it would like to replace its 767 jets with newer 787 aircraft.
(Reuters)
