Investors pay off CAL debt

INVESTORS have bought the controlling interest of Israeli cargo carrier, CAL Cargo Air Lines.

The group, led by Yarom Oren and Ofer Gilboa, bought the interest for NIS38 million (US$9.9 million). The amount covers CAL’s debts as well as NIS8 million ($2 million) in management fees.

CAL operates two 747-200 freighters out of Tel Aviv’s Ben Gurion Airport and has a hub in Belgium’s Liège Airport.

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