POSTED: 05:36 p.m. HST, Jan 10, 2013
LAST UPDATED: 06:03 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.