New Airline Hopes to Fill Sun d'Or Hole

Lead Air is a new charter airline which plans to fly to destinations around Europe; Lead Air is currently negotiating to receive its operating license.

Israel is getting a new charter airline, and it's called Lead Air.

The new company is currently negotiating with the Civil Aviation Authority about receiving its operating license, which it expects to obtain within a month, sources told TheMarker.

One of Lead Air’s 737s, as pictured on the company’s website

In order to meet the terms, the airline will need to acquire at least two planes. It plans to fly two Boeing 737s to destinations around Europe.

The company was founded by businessman Michael Weinstein, who worked with former El Al CEO Rafi Har-Lev at the now-defunct Aeroel airline. Also on board is Yoram Galon, the former El Al vice president for finance. Its investors include foreigners who currently prefer to remain anonymous.

Lead Air is seeking to fill the hole left by Sun d'Or, the El Al subsidiary that lost its license in April. Sun d'Or had not met international criteria for being an independent airline, which included having its own staff and planes.

The company had been dependent on El Al's infrastructure and existed as a way for the airline to operate flights on the Jewish Sabbath and holidays without losing the business of religious Jewish customers.