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The General Director of the Israel Antitrust Authority, Ronit Kan, has approved the purchase of 50 percent of the shares of Sunorama Cruises by Aviation Links Ltd.  The approval by the General Director constituted a necessary condition for the agreement.  Aviation Links purchased the shares to the value of 2.02 million shekels.

Aviation Links recently completed the purchase of 50 percent of the shares of Sunorama, in exchange for 2.02 million shekels, receiving the approval of the Antitrust Authority.  Sunorama, representing the cruise line Royal Caribbean, is owned by Uri Schnabel, who will continue in his role of general manager of the company.

Aviation Links reported that the reason for the acquisition of the company, was to maintain Sunorama’s cruising activities, while creating synergy with the existing tourist activities.

The general manager and owner of Sunorama, Uri Schnabel, revealed in a conversation with Educational Travel, that the reason behind selling 50 percent of the shares to Aviation Links was to broaden the company’s cruising activities by representing other companies in the field that do not compete with Royal Caribbean.

As part of the agreement for sale of shares to Aviation Links, Schnabel will remain as salaried managing director and will continue to coordinate the field of cruising from his office. 

In 2008, Sunorama had total revenue of 6.9 million shekels compared to 5.9 million during 2007.  The total gross profit in 2008 was 1.3 million shekels.