Boeing, El Al may study air safety (November 05, 2001)

The Boeing Co. and El Al Israel Airlines are studying a possible joint venture that would offer security and safety services for the airline industry.

The two companies have signed a memorandum of understanding, which will be in effect for 60 days, said Boeing.

The possible joint venture could develop safety systems and products, as well as provide security procedures and training for airlines, airports and governments.

During the 60-day period, the two companies will examine each other’s assets, business plans and financial strategies, and study possible locations for a joint operation. Either company can walk away during the 60 days. Boeing is based in Chicago, and its Commercial Airplanes division in Seattle.

El Al is Israel’s national airline.