Hawaiian carrier Island Air in take-over talks
Monday, 05 Jan, 2016
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Larry Ellison, billionaire owner of Hawaiian commuter airline Island Air is reportedly in talks with an investment firm to sell the loss making carrier.
Ellison, co-founder of IT firm Oracle, took over Island Air in 2013 but it has struggled to compete effectively with Hawaiian Airlines and its Ohana by Hawaiian island hopping commuter unit.
In mid-2015 Island Air announced cuts to its network, eliminating Honolulu-Lihue flights and laying off some staff.
It also deferred orders for two planes and cancelled options for an additional four.
The buyout talks come after Ellison had rejected a second bid from former Hawaiian Airlines CEOs Bruce Nobles and Paul Casey, according to media outlet Hawaii News Now.
Ellison also has 98% ownership of Hawaiian island Lanai which Island Air serves daily from Honolulu.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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