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tion committee discussed El Al's
costs for maintaining security.
Security costs total approxi-
mately $55 million a year, some
80 percent of which is currently
paid for by the government.
Mr. Kessar and Mr. Shohat
will decide during the privatiza-
tion process how the security
costs, which represent a heavy fi-
nancial burden for the airline,
will be shared by the government
and El Al shareholders.
A Transport Ministry
spokesman said the government's
privatization committee will de-
cide at a later date how to dispose
of the remaining 49 percent stake
in the airline.
The 51 percent share to be sold
to the public will probably be of-
fered first to El Al employees and
then to the public in an offering
on the Tel Aviv and New York
stock exchanges.
El Al has yet to report its 1993
results, but a company officini has
said the carrier had net profits
last year of approximately $10
million on revenues of more than
$1 billion.
El Al currently operates an all-
Boeing fleet of 22 jets, and re-
cently ordered a third Boeing
747-400 jumbo jet for delivery
next May.
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Tel Aviv (JTA) — The govern-
ment's privatization committee
has approved the sale of 51 per-
cent of El Al Airlines to the gen-
eral public, paving the way for
privatizing the national carrier.
The announcement followed a
meeting of the Ministerial Corn-
mittee for Privatization, which
accepted the recommendations
of Transportation Minister Yis-
rael Kessar and Finance Minis-
ter Avraham Shohat to privatize
El Al.
The actual sale of shares was
expected to take place in October,
when the once-ailing airline is to
be taken out of the 13-year-long
receivership under which it has
been operating.
A board of directors for El Al
will be named once the company
is out of receivership.
Mr. Kessar opposed the sale of
a controlling interest to a private
investor in order to protect the
airline's workers, who have al-
ready expressed fears about their
salaries and working conditions
under new owners.
El Al was put into receivership
by the government 13 years ago
when it suffered heavy losses in
the wake of numerous strikes by
one or more of the 12 local unions
representing El Al workers.
At its meeting, the privatiza-
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Government Approves
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z
ORIENTAL RUGS
Their plans called for them to
Jerusalem (JTA) — Members of
the Israel Defense Force twice pray at a wall alongside the sev-
forcibly prevented would-be Jew- enth step of the staircase leading
ish worshippers from entering from the street into the Tomb of
the Tomb of the Patriarchs in the the Patriarchs. During the peri-
od of Turkish rule in the region,
West Bank town of Hebron.
A group of fervently Orthodox Jews had been allowed to ap-
men from Jerusalem arrived in proach no closer than that step
Hebron on Wednesday intent on when praying at the site.
But the IDF — which had de-
praying at the Tomb, a site sa-
cred to Muslims as well as Jews. clared the site a "closed military
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The Tomb of the Patriarchs shortly after the massacre.