El Al Sells 12 Pratt & Whitney Engines to Foreign Company

Israel

Photo Credit: Tsahi Ben-Ami / Flash 90

El Al airlines, the national airline of Israel

El Al Airlines has signed an agreement to sell a foreign company 12 engines manufactured by Pratt & Whitney, according to the Globes business news site.

The deal is worth an estimated $30 million pre-tax capital gain on the date the proceeds are received and ownership is transferred to the buyer, if all goes well.

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The airline recently replaced its Boeing 747-600 and 767-300 model airliners, and is continuing to sell off their parts.

Just over a month ago, El Al sold a Boeing 767-300ER with two Pratt & Whitney engines, also to a foreign company; the sale is estimated to bring in a $4.4 million capital gain.

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