Oracle CEO Larry Ellison buys Hawaiian airline
Purchase comes after Ellison purchases 98% of Lanai, a Hawaiian island
IDG News Service - Oracle CEO Larry Ellison has added a local airline to his Hawaiian holdings, following his purchase last year of Lanai, one of the state's islands.
Ellison finalized the purchase of Island Air this week. Terms of the deal weren't disclosed.
Island Air offers flights in between Hawaii's major islands. More routes and flights will be added to Lanai as well as other islands, said Paul Marinelli, a representative for Ellison, during a press conference on the deal Tuesday.
The Lanai deal gave Ellison control of 98% of the island, or about 88,000 acres. The land boasts two Four Seasons resorts and two major golf courses for Ellison's enjoyment.
But Ellison has said he also plans to use the land to create a "model for sustainable enterprise," including converting the local energy utility to solar power.
Island Air's fleet fits in with that vision, according to officials.
"Compared to other airliners about this size, this aircraft sips fuel," said Michael Rodyniuk, an Island Air consultant, during the press conference.
Fares for Island Air flights will "be competitive in the marketplace," Rodyniuk said.
While Oracle's acquisitions over the years have resulted in significant layoffs at times, such a scenario is not in the offing for Island Air employees, according to airline president Les Murashige. "We have no intention of any cuts at this point in time," he said.
Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com
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