Larry Ellison Buys Hawaii Island Air
Larry Ellison, a co-founder and CEO of Oracle, a large enterprise software company, has purchased Island Air through a newly-formed holding company.
Founded in 1980, Island Air operates scheduled inter-island service from its main hub at Honolulu International Airport on Oahu and a smaller hub at Kahului Airport on Maui. The airline has code share and frequent flyer agreements with Hawaiian Airlines, go! (a division of Mesa Airlines), and United Airlines. It also operates its own frequent flyer program, Cloud 9.
In a prepared statement, Island Air said that the deal secures the company’s future. The airline has been undergoing a restructuring in recent months.
“The entire Island Air team pulled together over the past year to restructure and position the company for success and this sale represents the culmination of that process,” said Les Murashigie, the airline’s president. “We welcome Mr. Ellison. He has the vision and resources to literally take Island Air to new heights.”
The airline serves seven destinations within the state of Hawaii with 224 weekly flights and a fleet that includes Bombardier Dash 8 and ATR aircraft. The deal, which has closed, will give Island Air the ability to purchase new aircraft and launch new routes.
Last year, Ellison purchased the vast majority of Lanai, a largely agricultural island that lies off the coast of Maui.
(Photo: Accura Media Group)