El Al Airlines, an international airline company, agreed to acquire Arkia, a provider of airline services. Financial terms were not disclosed. “Approval of the Memorandum of Understanding is another step on the way to a possible signing of a binding agreement. We still have a long way to go before the transaction to acquire Arkia is completed, as part of El Al's strategy to expand into other areas of activity," Amikam Ben-Zvi, El Al Chairman.