With this promotion a round-trip ticket between New York and Tel Aviv will be 700 points instead of 1,400 points. You can transfer 35,000 American Express Membership Rewards points (earned on cards like the American Express® Premier Rewards Gold Card) into 700 El Al points.
Note that El Al charges $350 in fuel surcharges and taxes for a round trip from the US to Israel. (Fuel surcharges can be avoided by using American miles for travel on El Al, but then you can’t take advantage of this promotion).
You can also fly just one-way from NYC to Tel Aviv for 350 points plus $158.
Of course you have to find saver award space which is always tricky with El Al.
-Book by 02/16
Sample valid date as of the time of this post: Newark to Tel Aviv from 03/03-03/12.