Israir bidders enhance offers in battle to acquire leisure carrier

At least three of the prospective bidders for Israeli leisure airline Israir have submitted enhanced offers to acquire the carrier. The trustee overseeing the divestment of Israir from its parent IDB had set a 30 November deadline for best and final bids. Dor Alon Energy has put forward options including an offer it values at 125m shekels ($38m) comprising a 100m-shekel cash payment, a further 8m shekels for additional costs, and forgiveness of a $5m debt to IDB. Aircraft management specialist Global Knafaim Leasing is claiming a bid of 166m shekels through a 40m-shekel cash payment plus the allocation of shares worth another 109m, as well as wavier of the IDB debt. The trustee also states that BGI Investments is putting forward an improved offer for Israir, comprising a combined cash offer and share allotment. BGI is prepared to pay 75m shekels in cash as well as 15.2m shares, equating to 20% of the company’s capital.<br/>