Following the Flydubai plane accident: Shares of Israeli airline companies rise

Tel Aviv - Ofoq News - The incident that occurred on board a Flydubai flight from the Emirates to Ben Gurion Airport had an impact on the shares of Israeli airlines, as their shares recorded a noticeable rise during the hours following the plane’s emergency landing in Saudi Arabia.

According to circulated data, the value of El Al shares rose by 7.82%, while Israir shares jumped by 6.72%. As for Ark, the third Israeli airline, its shares are not traded on the stock exchange.

The rise in Israeli airline shares comes in the wake of the incident that occurred on board a “Fly Dubai” flight, which made an emergency landing in Saudi Arabia, after it was suspected that the co-pilot attacked the captain of the plane and tried to shoot it down.

According to the initial examination, it is suspected that the co-pilot attempted to commit suicide and bring down the plane, while Israeli authorities estimate that the incident may have a terrorist background.

According to reports, the co-pilot began stabbing the pilot several times, before a number of crew members and passengers were able to open the cockpit door and take control of him.

Editorial note: I kept the stock rise rates as stated in the original text, and did not treat them as a direct result of the incident, because the text presents this in a chronological context and not as proof of the cause of the rise.