Island Air to be sold to undisclosed buyer
Island Air’s first ATR 72 turboprop aircraft sat on the tarmac at Honolulu Airport on Saturday in front of the company’s maintenance hangar after flying in from Yamhill, Ore., where the fuel tanks were installed. The ATR 72 has 64 seats and is the first of two due this year as the company phases out its current fleet of three 37-seat Bombardier de Havilland Dash 8 aircraft and one 33-seat Saab 340B aircraft. The ATR 72 started its journey in Quebec, where it underwent an extensive overhaul to the exterior and interior before starting its journey to Hawaii. Island Air also has signed a letter of intent to lease five 46-seat ATR 42 turboprops, with the first two of those due later this year.
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.
