Arkia Signs MOU for Several A330-900neo Aircraft

Arkia Israeli Airlines has signed a Memorandum of Understanding with Airbus for up to four A330-900neo aircraft.

The commitment makes Arkia the first Airbus widebody customer in Israel, and will help Arkia to expand its operations into long haul markets.

Arkia’s A330-900neo will join the four A321neo aircraft ordered at the Farnborough International Airshow in 2012.

With Airbus’ Cross Crew Qualification concept, pilots and engineers can transition from the single-aisle A320 Family, to the twin-aisle A330 quickly, and airlines can operate and maintain both types with the same pool of pilots and engineers.

“The A330-900neo will be a key asset to help us grow efficiently on highly competitive international long-haul routes from and to Israel. The A330-900neo will offer our passengers the latest product with great cabin comfort on direct, long-haul flights,” said Nir Dagan, Arkia President and Chief Executive Officer. “Thanks to the proven reliability and fuel efficiency of the A330 family, the A330neo will also ensure that our majority shareholders, the Nakash brothers and Jordache Enterprises, are super happy.”

Nakash Holdings is the private investment office arm of Jordache Enterprises (from the Jordache jeans fame). The company manages a multibillion-dollar investment portfolio including MG Aviation in Hong Kong, U.S. POLO Assn, retail, agriculture, transportation, manufacturing, hotels and real estate located in prime locations throughout the world. The real estate portfolio consists of retail, office, multifamily and hospitality properties. Among the group's recent acquisitions are the Versace Mansion and the famous Art Deco Setai Miami Beach.

The A330neo will be powered by the latest generation Rolls-Royce Trent 7000 engines.