HONOLULU — Oracle Corp. CEO Larry Ellison bought a small Hawaii airline Tuesday, less than a year after he bought most of the Hawaiian island of Lanai.
Island Air said in a news release there will no layoffs or other staff changes after its sale to Ohana Airline Holdings LLC, a holding company owned by the billionaire.
Terms of the deal weren't disclosed.
"We are excited Mr. Ellison has acquired Island Air. He has the vision and resources to literally take Island Air to new heights," Island Air's president, Les Murashige, said in a statement.
Paul Marinelli, vice president of Lawrence Investments LLC, another company owned by Ellison, said the purchase is a major investment and commitment to Hawaii.