Israir says that EuroAtlantic is withdrawing its request to the Portuguese authorities to hold the Airbus A320.
An Israir Airlines and Tourism Ltd. CEO Uri Sirkis has reached an agreement with EuroAtlantic chairman Tomaz Metello regarding the eight year legal dispute between the carriers over an aircraft leased to Israir. Sirkis flew urgently to Lisbon yesterday to settle the dispute after one of its Airbus A320 aircrafts was seized by the Portuguese authority and he and Metello "immediately ended the legal dispute," an Israir statement said.
The statement continued, "The two sides have reached an understanding about the amount that Israir will pay to EuroAtlantic, which will withdraw its request to impound the Israir plane in Lisbon. They also agreed that after the dispute is ended they will enter into commercial cooperation procedures in the field of tourism and hotels."
150 passengers were left stranded on Monday when the Israir plane was unable to return to Ben Gurion Airport. Israir say that some passengers returned to Israel the same evening on a scheduled flight of another carrier and others are being accommodated in a local hotel.
Published by Globes [online], Israel business news - www.globes-online.com - on May 27, 2015
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