Arkia Employees Get Until Monday to Counter $45 Million Sale to Investor Group

A group of private investors led by Yariv Lerner signed a $45 million deal to buy Arkia, and the airline's employees have until Monday afternoon to match the offer. The Jerusalem Post reported that the talks ended around 3 a.m. After an emotionally charged night of negotiations.

Inside the $45 Million Arkia Deal

The deal includes an injection of about $45 million into Arkia's coffers, according to the report. The buyer group will put in about $30 million and receive control of the company, with the rest coming from brothers Rafi, Joe, and Avi Nakash and the state. The Nakash brothers will keep about 3% of the shares.

Employees held about 22% of the company through their corporation, and the announcement of the deal does not specify what will remain in their hands. Employee representatives are meeting several investors to see which can match the offer, what their plans for Arkia are, and what arrangement they are willing to make with the employees. If they find an investor who can meet the terms and reach agreements on the company's future and its employees, they will submit their offer by Monday.

Until the signing, Lerner, chairman and owner of the Negev Ceramics Group, was part of a group considering a purchase together with the employees, alongside the Varor family and Avi Elkayam. Dahari and Yaron Adiv, owners of the real estate companies Yashpro and Tnuport, were in talks with Avi Hormaru, who led the sale on behalf of the Nakash brothers. Lerner ultimately joined Dahari and Adiv, and Einav Adiv-Berar, Yaron's sister and an owner of medical centers, also joined the group.

Last week, dozens of employees demonstrated outside the company's offices against plans to dilute their stake. On Thursday, hours before the signing was announced, the Histadrut labor federation's Transportation Workers' Union declared a labor dispute, saying the company's owners pushed for workforce cuts without reaching agreements with employee representatives and that management pushed to cancel routes. "I think we'll be able to reach agreements with them," said a source involved in the negotiations.

Arkia's Route Launches Before the Sale

Arkia announced on September 8 a new direct Tel Aviv-Manila route starting January 3, 2027, with one weekly flight operated by an Airbus A330, CTech reported. On July 9, the airline said it would resume direct flights to Marrakesh, Morocco, starting August 24, ending a three-year suspension caused by the war, The Jerusalem Post reported. On November 8, Arkia launched discounted eSIM data plans for travelers abroad with Voye Global, covering over 130 countries, The Jerusalem Post reported.

Airline and Asset Deals Elsewhere

Banco ABC Brasil agreed to acquire 40% of Angá Asset, a credit manager with nearly R$24 billion under management, in a deal that may reach R$690 million and is subject to regulatory approvals, pegn reported on November 15. High Arctic Energy Services entered a definitive agreement with Newport Capital to acquire all its shares for $1.59 per share, totaling about $20.2 million, with the deal expected to close in December 2026, GlobeNewswire reported on November 14. Dai Nippon Printing's offer to acquire control of Austriacard Holdings became unconditional on November 10, 2026, after Austrian foreign investment clearance, with settlement due no later than November 24, 2026, The future of trading reported on November 12.