David Brodet, chairman of El Al resigns

David Brodet, chairman of El Al, announced this morning (Sunday) to the company's board of directors his decision to resign.
David Brodet took office after the Eagles' Wings Company received a control permit from El Al, and appointed him chairman of the board. Brodet previously served as chairman of Bank Leumi, chairman of Bank Mizrahi and CEO of the Ministry of Finance.
Wings of Eagles, owned by Eli Rosenberg, acquired 42.9% of El Al's shares in an investment of NIS 360 million in an IPO in September 2020. Brodet's resignation was announced four days after Kenny Rosenberg was appointed a director of El Al (+ 0% 57.9) following the approval he received to hold with his son Eli Rosenberg In control of the company. Brodet attached a letter to the El Al board of directors in which he explained that he was considering resigning upon receiving assistance from the state, but delayed his resignation until the end of the fighting.
He said that he entered the position of chairman during a difficult period after two closures that almost completely shut down the company's operations in October 2020 and its financial situation was very bad. The exams.
"I joined El Al because of its serious situation in recognition of its importance as Israel's national airline. El Al is a very important strategic asset for the State of Israel, especially in light of the fact that air transportation is almost the only way for passengers to and from Israel, and El Al always operates in situations where other companies Silence, "Brodet wrote in his letter.
El Al's last quarterly report shows that the streamlining measures it took led to an improvement in its financial results, but the company still suffers a heavy loss and negative cash flow as a result of the ongoing crisis in the aviation industry and closure in the first quarter of 2021. The company lost $ 86 million last quarter % Compared to the loss in the fourth quarter of 2020, and a decrease similar to the first quarter of 2020. 
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