Island Air closed the sale of the airline Wednesday to a newly formed holding company owned by Lawrence J. Ellison (Larry Ellison), CEO of the enterprise software company Oracle.
“This is another major investment and commitment to Hawaiʻi,” said Paul Marinelli, vice president of Lawrence Investments, LLC.
The sale is supposed to secure the future of Island Air and its employees.
“We are excited Mr. Ellison has acquired Island Air. He has the vision and resources to literally take Island Air to new heights,” said Les Murashige, Island Air president.
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Island Air has added one new ATR 72 aircraft to its fleet.
There are no planned staff changes and Island Air will continue its operations as usual while developing plans for additional planes, routes and services.
Island Air is Hawaiʻi’s leading regional carrier, serving airports on all major Hawaiian Islands. The airline now offers 224 weekly flights between the islands of Oʻahu, Maui, Molokaʻi, Lānaʻi and Kauaʻi.
Island Air serves its island communities and provides service for its guests and those of its code-share partners United Airlines and Hawaiian Airlines.