Valued at Hundreds of Millions: Israir's New Move

Israir shareholders approved today, Friday, with a 99% majority the investment deal in the new 'Super Fly' customer club, under which the company will acquire 10% of the club for 15.1 million shekels.

The deal gives the club a valuation of approximately 315 million shekels, with Israir's share reflecting a value of about 31.5 million shekels, in accordance with the valuation conducted as part of the deal.

'Super Fly' is being established as a joint venture of Rami Levy Chain Stores, Isracard, and Israir, with the goal of offering a new customer club that will connect shopping, financial services, and the world of tourism. According to the plan, club members will enjoy accumulating points, consumer benefits, flight promotions, and dedicated offers in a variety of fields. Upon completion of the deal, Israir will become a partner in the club and will be responsible for the range of benefits in the tourism sector, including flight promotions and dedicated packages for club members.

The club is expected to launch with approximately 200,000 'Super Fly' credit card holders, and the partner companies estimate that in the coming years, tens of thousands of additional customers will join.

At Israir, they view the move as part of the company's growth strategy, designed to expand its operations beyond the aviation sector. The company estimates that already during the current year, the investment is expected to contribute millions of dollars to its profits, alongside the potential for increasing revenues in the long term through the expansion of the club's activities and the increase in the number of its members.