Israir (TASE: ISRG) has recently been granted a license to operate flights from Tel Aviv to New York, making it the third Israeli carrier to fly this route. El Al and Arkia also currently offer flights from Tel Aviv to New York, with 28 and five weekly flights respectively. In addition, United Airlines, a US carrier, is set to resume its 14 weekly flights on this route next week. These flights were temporarily suspended in May due to a missile landing near Ben Gurion airport in Israel.

Israir first announced in April that they had received a temporary license from the US Department of Transport. The airline stated that they planned to begin operating flights on the Tel Aviv – New York route “from Passover 2026, and perhaps earlier.

The reason for the delay, according to Israir, is that they plan to use Airbus A330 aircraft on a “dry” lease basis, with their own flight and maintenance crews. This process is expected to take some time, as they must secure the availability of the aircraft. As a result, Israir’s weekly flights are expected to be lower in number compared to other airlines on the route.

Israir’s operating model is its main advantage, as it differs from that of its competitors. Israir, owned by Rami Levy, will operate on a “dry” lease basis, meaning they will lease a foreign aircraft but use their own Israeli crew. This is in contrast to Arkia, which operates on a “wet” lease basis, leasing both the aircraft and crew from a foreign company.

During the recent conflict, one of the main reasons for the suspension of foreign airlines in Israel was the refusal of foreign crews to fly to the country. With their own Israeli crew, Israir’s “dry” lease model provides more independence and flexibility, especially during times of crisis. In comparison, Arkia may face operational difficulties if foreign crews are unwilling to fly to Israel.

In the past 18 months, US airlines have not been operating reliably in Israel, causing a supply and demand imbalance for flights to North America. Delta Airlines is expected to resume flights in September, while American Airlines has yet to announce a return date.

At the start of the recent conflict, El Al was the only airline offering flights to the US. However, Arkia’s addition of flights to the US provided much-needed competition, even when foreign airlines were not flying to Israel.

Israir has previously operated direct flights to New York in 2004, initially as charter flights. These were later upgraded to scheduled flights, with leased aircraft. However, the route was discontinued in 2008, along with their long-haul route to Bangkok, due to concerns over profitability. It is estimated that Israir suffered losses of approximately $14. 8 million from the New York route alone.

A senior industry official notes that operating charter flights and long-haul routes is a risky business, both