Israir's Club: How Much Is the Deal with Rami Levy and Isracard Worth?

The loyalty program market in the aviation sector is heating up: after the El Al frequent flyer program recently moved to Isracard, Israir is now entering as a partner in the loyalty program of Rami Levy and Isracard, a move aimed at creating a combined program that will compete for Israeli consumers.

In the photo: Rami Levy, one of the owners of Israir, Uri Sirkis, the company's CEO, and the flight crew that brought the plane from the USA to Ben Gurion Airport: Captain Joel Ben-Peretz and Captain Amir Weingarten. Photo: Sivan Paraj.

As part of the deal, Israir will join as a shareholder in the program, alongside Rami Levy and Isracard. The ownership distribution will be: Rami Levy will hold 72% of the program, Israir 18%, and Isracard 10%. According to the valuation conducted by BDO, the program is currently worth about 275 million shekels, but the integration of flight benefits and tourism services from Israir is expected to increase its value to about 315 million shekels, an addition of about 40 million shekels to the program's value.

One of the key figures in the deal is the price that Israir will pay for entering as a partner. According to the economic calculation, after taking into account the value it is expected to add to the program, the net payment for its share will be about 11.3 million shekels. In addition to its share in the program, Israir receives additional benefits as part of the deal: Isracard will grant it about 6.4 million shekels in cash, an advertising budget of about 3.6 million shekels will be allocated, and the program will purchase flight tickets from Israir in advance worth about 10 million shekels, which will be used for benefits and for acquiring new customers.

The program itself is already active on a significant scale. As of 2025, about 800,000 members are registered in it, with about 184,000 of them also holding a credit card of the program. Revenues come mainly from commissions on credit card usage, credit activity, and card fees. In 2025, the program generated about 29.7 million shekels and recorded a net profit of about 15.4 million shekels.

Israir's entry comes at a time when airlines are trying to strengthen their direct connection with customers and offer not only flights, but also benefits and complementary products around the world of vacations. Now it remains to be seen whether the combination of daily shopping at Rami Levy and flight benefits from Israir will succeed in competing with the largest aviation loyalty programs in Israel.