El Al Airlines CFO Yancale Shahar will retire in December; his deputy CFO Gil Feldman will succeed him.

El Al Israel Airlines declared on Sunday that its longtime CFO, Yancale Shahar, was retiring in November after 19 years of service. The airline affirmed that this position will be assumed by Gil Feldman, who is also the deputy CFO and head of economics, budget, and business development as of December 1. The change will bring about a giant shift in the leadership of the flag carrier of Israel, which has experienced remarkable growth in spite of the challenges in the region.

In the first part of this year, CEO Dina Ben Tal Ganancia also announced that she would retire at the end of 2025. The future redesigns of the CFO and CEO positions point to a transition in El Al.

As of October 2023, El Al has been enjoying booming profits due to the Israel-Hamas conflict that started in October. As most of the international airlines have suspended flights to Tel Aviv, the airline has managed to maintain a high demand as it fills its planes at high airfares.

According to industry analysts, the new CFO will have to manage financial momentum and guide long-term strategy in changing leadership.