Dubai-based NY Koen Group to bid for purchase of Israeli carrier Israir

Dubai-based NY Koen Group has announced that it will be making a bid to purchase Israir, Israel’s third-largest airline, in an ongoing auction.

NY Koen Group said its subsidiary Aero Private Jet has a “great deal of experience” in the field of business aviation and sees the purchase of Israir as a chance to expand their services.

The UAE and Israel announced plans to launch direct flights between the two countries soon after the Abraham Accords peace deal was signed.

Israir had started the process of applying for a landing permit in the UAE in August, soon after the bilateral peace deal was announced.

Read: Israeli airline Israir seeks UAE landing permit

The airline is planning to start flying to Dubai and Abu Dhabi, NY Koen Group said in a statement.

“NY Koen Group is excited about the potential purchase of Israir and the opportunities this presents,” it said, adding “Israir stands to gain a great deal should they succeed in purchasing the company.”

According to reports in Israeli media, the auction for Israir ends on November 8 and it has so far received a bid from two Israeli businessmen.

Israir, which operates scheduled and chartered flights to destinations across Europe, currently flies over a million passengers per year on both international and domestic flights, the statement said.

The NY Koen Group said it will be making “every effort” to acquire the company.

“On the heels of the UAE-Israel normalisation agreement…purchase/investment in Israeli aviation by an UAE-based business would help cement the peace accord,” it added.