Island Air, which earlier this month was sold to a new majority owner, said 85.1 percent of its flights arrived on time in the fourth quarter.

The state’s third-largest airline, which is privately held, said it wants to improve its transparency and began independently reporting its operational performance in September. In its latest data, Island Air said 86.2 percent of its flights arrived on time in October, 79.7 percent in November and 89.3 percent in December. A flight is considered on time by the U.S. Department of Transportation if it lands within 14 minutes of its scheduled arrival. Island Air is not included in the performance data of the 13 largest U.S. carriers that is released monthly by the DOT.

Island Air, whose only routes are between Honolulu and Kahului, and Kahului and Lanai, also reported that it completed 98.7 percent of its scheduled flights during the fourth quarter with 27 cancellations out of 2,132 flights. Month-by-month completion rates were 99 percent in October (seven canceled flights out of 717), 97.3 percent in November (19 cancellations out of 695 flights) and 99.9 percent in December (one cancellation out of 720 flights).

“While a scheduled, but lengthy, heavy maintenance event for one of our aircraft caused some challenges in November, our team ended the year with an incredibly strong record in on-time performance, and more importantly, we had a near-perfect record in successfully completing 720 scheduled flights for the month of December,” Island Air CEO Dave Pflieger said. “This impressive performance is great news for our airline and our customers and these solid results show how well our team is doing at Island Air and how we’re doing compared to other airlines here and overseas.”

Less than two week ago, Island Air announced that billionaire Larry Ellison is relinquishing control of Island Air to an investor group headed by Hawaii venture capitalist Jeffrey Au, founder and managing director of PacifiCap. The purchase is subject to approval by the U.S. DOT.