Maui Business

Island Air To Get New Owner

January 10, 2013, 6:06 PM HST
* Updated January 11, 12:14 PM
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Courtesy photo.

By Sonia Isotov

Hawaii Island Air, Inc., which does business as Island Air, announced today that it has entered into an agreement that it believes will lead to a sale of the company to an undisclosed buyer.

“This is a great opportunity for the future of the company,” said Les Murashige, the president of Island Air, in a written statement. “The company has gone through a number of challenges recently and a new owner will bring a fresh perspective to the company.”

Murashige said there are a number of hurdles that must be cleared before the closing of the transaction. He expressed optimism that the hurdles would be cleared and the new ownership would be in place within the next six to eight weeks.

“There has been a lot of hard work and due diligence done over the holidays. We are prepared to move forward and have been meeting with the relevant groups who have a role in making this happen.”

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Island Air is regional carrier that serves airports on all major Hawaiian islands. Founded in 1980 to provide air service between Princeville and Honolulu, the airline now offers weekly flights between all the islands.

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