Lavi Levy: A New Era for El Al
Lavi Levy, aged 55 and currently the CEO of the credit card company Cal, stands as the leading candidate to take over as CEO of El Al, Israel’s flagship airline. This potential appointment follows the announcement of Dina Ben Tal Gnanessia’s retirement, marking a significant shift in the airline’s leadership.
The Decision Behind the Appointment
The decision to appoint Levy stems from the direction of El Al’s owner, Koni Rosenberg, who has opted for a CEO with a finance background rather than one from the aviation or marketing sectors. This choice reflects a strategic pivot toward enhancing financial management in a turbulent industry.
Recent Developments
Levy’s candidacy comes on the heels of a major transaction involving Cal, where ownership shifted from Discount Bank to Union Group, led by George Hroshe and Harel Insurance, for approximately 3.75 billion shekels. Throughout his seven years as CEO of Cal, Levy has demonstrated remarkable acumen, previously serving as Deputy CEO at Discount Bank.
Familiar Grounds
Levy’s prior experience will be beneficial for El Al, particularly his interactions with the airline through its collaboration with Cal’s subsidiary, Diners. This partnership involves the issuance of the Fly-Card, which offers perks to members of El Al’s frequent flyer program. El Al’s financial gain from the sale of Cal cannot be overlooked, with expectations of receiving 166 million shekels from Discount Bank due to options held from their credit card partnership.
Achievements at Cal
Under Levy’s leadership, Cal strengthened its market position against rivals Isracard and Max, broadened its consumer credit offerings, and improved overall profitability. His tenure has seen Cal emerge as the most profitable among Israel’s three major credit card companies, setting a high standard for performance and innovation.
Challenges Ahead for El Al
Transitioning to the role of El Al CEO, Levy is poised to confront several challenges. These include navigating the airline’s recovery in a post-war era, where it previously enjoyed periods of limited competition due to geopolitical circumstances. As international airlines gradually resume operations to Israel, El Al will face stiff competition, likely impacting the record profits experienced during the conflict.
Conclusion
Lavi Levy’s appointment as CEO of El Al could signify a transformative period for the airline. With his financial expertise and past successes at Cal, he aims to steer El Al through emerging challenges, ensuring it remains competitive in the ever-evolving landscape of air travel.
