Island Air has announced that they will be selling their company to an undisclosed buyer. The deal is expected to close sometime within the next six to eight weeks. Current president of Island Air, Les Murashige, stated that due to his nondisclosure agreement, he could not identify the buyer or the price at this point. However, Muarshige did state that there are not any plans to play off any of the company’s 245 employees. Murashige commented, “This is very positive for all the employees of Island Air as well as the communities that we serve. It’s business as usual. At the appropriate time we’ll hopefully be adding more flights to the system.”
Island Air remains the third smallest interisland passenger service with approximately 5 percent of the market share. In comparison, Hawaiian Airline has the largest interisland market share at 84 percent, followed by go! airline with 8 percent. The company offers 322 flights per week and has a total of three planes in its fleet. Murashige added, “The finances of the company are fine. We’re struggling along. We’re OK, but we’re not making money hand-over-fist. I truly believe we can be the solid No. 2 carrier. We have no delusions of thinking that we can take over the world or be the No. 1 carrier. We’re just looking to be No. 2 as an alternative for people who want to travel on us.”
Source: Honolulu Star Advertiser, 1-11-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
