In a previous work we studied, from the perspective ofAlgebraic Logic, the implicationless fragment of a logic introduced by O. Arieli and A. Avron using a class of bilattice-based logical matrices called logical bilattices. Here we complete this study by considering the Arieli-Avron logic in the full language, obtained by adding two implication connectives to the standard bilattice language. We prove that this logic is algebraizable and investigate its algebraic models, which turn out to be distributive bilattices with additional implication (...) operations. We axiomatize and state several results on these new classes of algebras, in particular representation theorems analogue to the well-known one for interlaced bilattices. (shrink)