In a study commissioned by the labor union of El Al, Professor Yaron Zelekha, dean of the Ono Faculty of Business Administration, found that executive compensation in the company significantly exceeds that in other large, public companies in Israel, as does the fixed component in their salary. The union representatives are using the report written by Prof. Zelekha as the basis of their current negotiations with the management over a new plan for cutting costs. This section of the report uses data from 2008, the first year that the new controlling core led by the Borowitz-Moses family had full control of the company. Prof. Zelekha found that while the company’s financial condition deteriorated, executive pay sky-rocketed until it exceeded, by any professional standard for comparison, the accepted executive pay in public companies in Israel.”
