ILS
Abbreviation with 3 meanings
| Stands for | Israeli new shekel |
|---|---|
| Meanings | 3 |
| Categories | Business & Finance, Transportation & Travel |
ILS has three meanings. The most common are Israeli new shekel (currency) and Instrument landing system (aviation); it can also stand for Insurance-linked securities.
Meanings of ILS at a glance
| # | ILS stands for | Context |
|---|---|---|
| 1 | Israeli new shekel | Business & Finance › Currency |
| 2 | Instrument landing system | Transportation & Travel › Aviation |
| 3 | Insurance-linked securities | Business & Finance › Insurance |
1. Israeli new shekel
Business & Finance · Currency Abbreviations
Israel's currency, issued by the Bank of Israel and divided into 100 agorot; it also circulates in the Palestinian territories. The new shekel replaced the old shekel at 1,000 to 1 in 1985 after hyperinflation.
Example: The Tel Aviv museum ticket costs ILS 59.
English-language Israeli media usually write NIS, for new Israeli shekel, and the symbol is ₪. The shekel began as an ancient unit of weight mentioned in the Hebrew Bible. Israel's 1985 stabilization plan halted inflation that had exceeded 400 percent a year.
2. Instrument landing system
Transportation & Travel · Aviation Abbreviations
Precision approach system in which two ground radio beams, the localizer for left-right guidance and the glideslope for vertical guidance, lead an aircraft down to the runway in poor visibility. A standard Category I ILS allows descent to 200 feet above the runway before the pilot must see it.
Example: The 737 flew the ILS to runway 28R in a 300-foot overcast and broke out with the approach lights in sight.
Developed in the 1930s and adopted as the international standard by ICAO in 1949, ILS remains the most common precision approach worldwide. Category II and III approaches allow lower minimums, and CAT IIIb operations with autoland can work with very low or no decision height. Marker beacons that once marked distances on the approach are gradually being replaced by DME and GPS fixes.
3. Insurance-linked securities
Business & Finance · Insurance Abbreviations
Investments whose returns depend on insurance losses, such as catastrophe bonds that pay investors high yields but lose principal if a defined disaster occurs, transferring risk from insurers to capital markets.
Example: The pension fund added ILS to diversify away from stock market risk.
The market began in the mid-1990s after Hurricane Andrew's 1992 losses strained reinsurers.
Related abbreviations
More currency abbreviations
- HKD – Hong Kong dollar
- HRK – Croatian kuna
- HUF – Hungarian forint
- IDR – Indonesian rupiah
- INR – Indian rupee
- ISK – Icelandic krona
- ISO 4217 – ISO 4217 (international currency code standard)
- JOD – Jordanian dinar
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More aviation abbreviations
- IATA – International Air Transport Association
- ICAO – International Civil Aviation Organization
- IFE – In-flight entertainment
- IFR – Instrument flight rules
- IMC – Instrument meteorological conditions
- IR – Instrument rating
- LAANC – Low Altitude Authorization and Notification Capability
- LCC – Low-cost carrier