El Al is planning a $62 million offering in the second half of 2022 as the Israeli carrier continues to reorganise its debt structure and repay shareholder loans.

Update: El Al's planned $62 million share offering would be delayed until April 2023.

Update: El Al has completed a public offering of ordinary shares of around $140 million.

The Israeli flag carrier issued 92 million ordinary shares and will also issue 92 million warrants worth a combined ILS524 million ($141 million) should all warrants be exercised, according to a regulatory filing.

The carrier’s controlling owner, Wings Aviation, submitted orders for the purchase of units with a total monetary value of approximately ILS92 million.

Leader Capital Markets and Discount Capital acted as placement agents in the offering.