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Wednesday, February 27, 2013

Oracle CEO Buys Island Air

Oracle CEO Larry Ellison completed the purchase of Hawaii-based regional carrier Island Air for his newly formed holding company, Lawrence Investments LLC.

The purchase comes less than a year after Ellison purchased the majority of the land on the small Hawaii island of Lana’i. Financial terms of the transaction were not disclosed.

“We understand the critical importance of transportation in an island state and we will ensure that Island Air strengthens its role, capacity and service to the people of Hawaiʻi,” said Paul Marinelli, vice president of Lawrence Investments LLC.

The carrier said there are no planned staff changes and operations will continue “as usual.” More

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