Island Air closed the sale of the airline on Wednesday to a newly formed holding company owned by Lawrence Ellison. The sale secures the future of Island Air and its employees, the airline said in a press statement.
"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 Murashige, Island Air president. “I want to personally thank our 245 employees, the unions that represent them, and our entire management team for their efforts this past year.”
Island Air has already added one new ATR 72 aircraft to its fleet. Island Air customers will now enjoy a larger plane with more seats, more legroom and greater comfort. The ATR 72 is also environmentally and economically superior to other aircraft in its category.
“There are no planned staff changes and Island Air will continue its operations as usual while developing plans for additional planes, routes and services,” the airline said in a company press release. “All current tickets will be honored and all Cloud9 members will retain their status and benefits.”
Island Air is Hawaii’s leading regional carrier, serving airports on all major Hawaiian Islands. The airline now offers 224 weekly flights between the islands of O'ahu, Maui, Moloka'i, Lana'i and Kaua'i. In July, the airline offered 352 weekly flights.