After a stormy period that included tens of millions of dollars in losses during the war and a stubborn legal battle against Wizz Air establishing a hub in Israel, the Nakash brothers are in talks to sell control of Arkia Airlines. The potential buyer who is in advanced negotiations to acquire the airline is Elliot Zemel, an American lawyer and investor, with business activities mainly in healthcare and investments. At this stage, there is no certainty that the negotiations will mature into a binding transaction.
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Zemel has a doctorate in business law, and has built most of his professional activity in the fields of healthcare law, management and operation of supervised enterprises and investments. He currently serves as a managing member of the Koze Investment Group, and in March 2025 was appointed a director of CannaPharmaRX, an American cannabis pharma company traded on the OTC market. Zemel has no known background in the fields of aviation and tourism.
Zemel was previously a co-owner and operator of South Pasadena Care Center, a nursing home in California, which he entered in 2015 after an exchange of ownership. In the following years, civil lawsuits were filed against the institution, alleging failures in the treatment of tenants.
The controlling owners of Arkia Airlines, the Nakash brothers, are currently conducting negotiations, led by Avi Nakash, to examine the sale of control of the company. Such a transaction would require the integration of Israeli investors, in accordance with regulatory restrictions on the percentage of foreign investors holding shares in Israeli airlines. According to estimates, Arkia is worth about $50 million.
Published by Globes, Israel business news – en.globes.co.il – on February 5, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
