El Al Israel Airlines has announced it has signed a Memorandum of Understanding (MOU) to acquire rival Arkia Israel Airlines.

El Al’s board also approved the acquisition.

Arkia was founded in 1949 as Israel Inland Airlines.

Top Copyright Photo: Arkia Airlines Embraer ERJ 190-200LR (ERJ 195) 4X-EMA (msn 19000172) MUC (Gunter Mayer). Image: 956684.

Arkia aircraft slide show:

Arkia aircraft photo gallery: