El Al inks $2.5b aircraft upgrade deal with Boeing
Israeli national carrier to take loan from plane maker to buy or lease new aircraft.
El Al Israel Airlines has begun the process of renewing its fleet of aircraft over the next two decades to the tune of an estimated $2.4 billion to $2.7 billion. Last Wednesday the company's board of directors approved a memorandum of understanding for receiving an eight-year, $40-million loan from Boeing Capital Corporation, the Boeing Company's financial arm. El Al will receive $30 million next month and the...
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