Flycard
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CAL reports reveal: This is the compensation received for the frequent flyer club
The credit card company's net profit rose by approximately 4% to 104 million shekels, excluding the one-time payment received from El Al for transferring the FlyCard club to Isracard, which stood at 23 million shekels in the second quarter. In total, the overall compensation CAL expects to receive for the termination of the engagement with El Al stands at 75 million shekels.
Following the loss of FlyCard: CAL is expected to lay off up to 220 employees — 15% of its workforce
Credit card company CAL is planning to reduce its workforce by 10% to 15%, affecting 150 to 220 positions. This move follows the loss of the El Al FlyCard franchise to Isracard earlier this year.
The Second Authority backtracks: Rejects El Al's claims and restores the CAL advertisement
A turning point in the advertising struggle between aviation clubs: After demanding the removal of parts of the Flyall advertisement, the Second Authority has changed its decision, determining that the comparison to Isracard's FLYCARD is legitimate. CAL must now add prominent clarifications and submit the corrected version for approval.