El Al buys secondhand Boeing 747 for US$23m

The Boeing 747-400 that was built in 1996 will be dekivered next week. El Al operates at present a fleet of five 747-400 jumbo jets
 
El Al Israel Airlines Ltd. announced last week it had bought a used Boeing 747-400 from RB Leasing Company for US$23 million. The price includes the cost of adapting the plane to El Al's needs.
 
In a press release the airline noted that it will take delivery of the Boeing 747-400 next week, for service on medium and long-haul routes.
 
The Boeing 747-400 was built in 1996. El Al will initially finance the purchase from its own resources, and it is examining alternative financing methods.
                                            
Eliezer Shkedi, El Al CEO, said that the purchase is part of El Al's business strategy to meet demand for service to the airline's medium and long-haul destinations.
 
El Al operates at present a fleet of five 747-400 jumbo jets. The new aircraft will increase the 747-400 fleet to six.