JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

Oracle CEO Ellison buys Hawaii's Island Air

Date

Gerry Shih

Zoom in on this story. Explore all there is to know.

Investment in Hawaii ... billionaire Larry Ellison.

Investment in Hawaii ... billionaire Larry Ellison. Photo: AP

Technology billionaire Larry Ellison can now afford to fly commercial – on his own commercial airline, that is.

The Oracle chief executive has added a small Hawaiian airline to his holdings, less than a year after he purchased the vast majority of land on the small Hawaiian island of Lana'i, off the coast of Maui.

Island Air, a Honolulu-based carrier with a handful of island-hopping planes and about 245 employees, will not make any staff changes as part of the sale and will continue normal operations, the company said.

"We are excited Mr Ellison has acquired Island Air. He has the vision and resources to literally take Island Air to new heights," said Les Murashige, Island Air president.

Terms of the deal were not disclosed, but it was unlikely to financially strain the software mogul, who has an estimated fortune of $US36 billion. Forbes magazine recently named Ellison the sixth-richest man in the world.

A spokesman for Ellison called the Island Air purchase "another major investment and commitment to Hawaii".

After Ellison bought 98 per cent of Lana'i last year, he said he intended to turn the island into a "laboratory" for green living.

Reuters

Comments

Be the first to comment.

Make a comment

You are logged in as [Logout]

All information entered below may be published.

Error: Please enter your screen name.

Error: Your Screen Name must be less than 255 characters.

Error: Your Location must be less than 255 characters.

Error: Please enter your comment.

Error: Your Message must be less than 300 words.

Post to

You need to have read and accepted the Conditions of Use.

Thank you

Your comment has been submitted for approval.

Comments are moderated and are generally published if they are on-topic and not abusive.