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Island Air to be sold to undisclosed buyer

By Dave Segal

LAST UPDATED: 6:03 p.m. HST, Jan 10, 2013

Island Air said today it has entered into an agreement that will lead to a sale of the company to an undisclosed buyer.

Hawaii Island Air, Inc. which does business as Island Air, made the announcement in a news release today. 

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

Murashige said 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." 

Last year the 32-year-old Island Air averaged about 50 flights a day primarily to smaller airports, including Molokai, Lanai and Kapalua in West Maui.

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