Island Air has confirmed that billionaire Larry Ellison has completed a deal to purchase their company. Paul Marinelli, a representative of Ellison, stated, “Make no mistake about it, the airline will be increasing service to all the islands, not just Lanai. It goes without saying that Island Air is critical to the island of Lanai, and that certainly was the impetus for beginning discussion. But as we got into it, what we realized is there’s an incredible market opportunity here for all the islands, and we fully intend to engage that opportunity.”
Island Air currently has approximately 5 percent of the state’s inter-island market. President of Island Air, Les Murashige, stated, “Mr. Ellison has already demonstrated a strong commitment to Hawaii, and we are proud to have an owner with the resources and desire to facilitate our expansion plan. This is a very exciting day for the Island Air ohana as well as the entire state of Hawaii. Mr. Ellison brings resources to build the airline, so we plan to service all the communities of Hawaii, which we feel will benefit both kamaaina and visitors alike.” It was also announced that Murashige will remain as President of Island Air.
Larry Ellison is the CEO and co-founder of Oracle Corporation, and is the third-richest man in the United States. Ellison made headlines in 2012, when he purchase 97 percent of the island of Lanai.
Source: Honolulu Star Advertiser, 2-27-2013, 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
