Israeli Businessman Based in the UAE Naum Koen Makes $50 Million Bid for Israel’s Israir Airline

The offer was made through his NY Koen Group which is based in the United Arab Emirates.

Naum Koen from His Website

Ukrainian born Israeli businessman Naum Koen has made a $50 million bid for Israeli airline Israir. Koen’s operations are based in the United Arab Emirates through his NY Koen Group.

NY Koen Group has only just confirmed previous reports that it was pursuing Israir and revealed the value of its bid.

Calcalist reported that $35.5 million of the purchase price will go to bondholders and the rest of the money will be paid directly to the company for the upgrade planes and equipment.

Israir has been looking for a buyer for a long time. As with all airlines, the Corona Virus has crippled its business in the last six months,

Naum Koen said in a statement that his company is, “currently reviewing details regarding corporate objectives and the financial state of Israir. Both NY Koen Group and Israir are excited about the future potential of this purchase and are eager to have the details finalized quickly.”

“I’ve operated for the past two decades in the tourism and airline sectors and I’m interested in Israir’s fleet of aircrafts and the six tourism companies it holds to accelerate my growth in the sector,” Naum Koen told Calcalist. “The openness that arose from the peace agreement between Israel and the UAE has created a unique mix of opportunities, with tourism playing a central role, and the acquisition of Israir will also allow me to enter the low-cost sector.”

“This is the type of purchase that could be the start of something amazing. Hopefully, it would encourage many other business collaborations between Israel and the United Arab Emirates.”

NY Koen group was founded in 2010 and it holds multiple companies under its umbrella.

The work done by companies within this group is versatile and involved in different industries such as diamond trading, digital marketing, jewellery manufacturing and retail, security, business aviation and interior décor.

Some of the projects organized in the past include the world’s first amber stone mosque. The mosque was presented in April 2017 in the hotel Burj al Arab, in Dubai. Recent project Naum Koen is working on is NY Trade Center Kyiv.

Naum Koen is married to Yevgeniya Koen and they have 4 children: Daniel, Miryam, Sofya and Sara. His wife is founder and CEO of Jeni Coin which is one of the Jewelry companies within NY 770 Group holding: with boutiques in different countries, including Ukraine.

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