Larry Ellison Buys Island Air

HONOLULU, Feb. 27, 2013 /PRNewswire/ --  Island Air closed the sale of the airline today to a newly formed holding company owned by Lawrence J. Ellison. The sale secures the future of Island Air and its employees.

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"This is another major investment and commitment to Hawai'i," said Paul Marinelli, vice president of Lawrence Investments, LLC. "We understand the critical importance of transportation in an island state and we will ensure that Island Air strengthens its role, capacity and service to the people of Hawaiʻi. We recognize the need for providing options for travelers, and we believe Island Air has tremendous potential to deliver value to both residents and visitors."

"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.

"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. I want to personally thank our 245 employees, the unions that represent them, and our entire management team for their efforts this past year. And, on behalf of all of us at Island Air, we welcome Mr. Ellison and we look forward to an exciting future together."

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. All current tickets will be honored and all Cloud9 members will retain their status and benefits.

About Hawaii Island Air (Island Air)
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 O'ahu, Maui, Moloka'i, Lana'i and Kaua'i. Island Air is dedicated to its island communities as well as to providing warm and personalized service for its guests and those of its code-share partners United Airlines and Hawaiian Airlines. For reservations, flight information and free membership in Island Air's Cloud 9 Customer Rewards Program, visit www.IslandAir.com.

Contact:
Russell Pang
Email: [email protected]
Communications Pacific
Phone: (808) 543-3591
Cell: (808) 382-7023

or

Nicole Fuertes
Email: [email protected]
Communications Pacific
Phone: (808) 543-3551
Cell: (808) 285-2897 

SOURCE Island Air