Israeli national airline El Al announced that it is moving its US headquarters from New York City to Miami to save the company $500,000 annually.
Follow Israel Hayom on Facebook, Twitter, and Instagram
According to a report by Israeli business daily Globes, the airline mentioned the move, which was approved by the board of directors, in its first-quarter financial statement.
New York is the primary market for El Al in America. However, plans are in the works to expand flights to additional cities across the United States beyond the popular destinations of Boston, Miami, and Los Angeles.
The rent for the office space in Miami is expected to cost $90,000 annually.
Reprinted with permission from JNS.org.
