HONOLULU — The U.S. Department of Transportation has approved the sale of Island Air to PacifiCap, officials announced Monday. “It’s an honor to return to the helm of this storied airline, and l look forward to working together with our
HONOLULU — The U.S. Department of Transportation has approved the sale of Island Air to PacifiCap, officials announced Monday.
“It’s an honor to return to the helm of this storied airline, and l look forward to working together with our new owners, our board and the terrific men and women of Island Air to ensure we remain Hawaii’s local alternative for interisland travel,” said Les Murashige, CEO and president of Island Air.
The company announced the change of hands on Jan. 7, saying the sale was subject to approval by the DOT. The approval allows company officials to move forward with expansion plans, like adding aircraft and expanding interisland service.
“We are looking forward to continuing that partnership as we build a strong second airline for Hawaii,” said Jeffrey Au, PacifiCap founder and managing director. “Our recent announcement to return to Kauai and restore service and create jobs at Lihue Airport is an indication of the great things we have in store for our airline and for the people of Hawaii.”
Island Air announced its plans to return to Kauai on Jan. 21. Starting March 15, Island Air will service six round-trip flights to Honolulu daily.
Island Air discontinued service to Kauai in 2015, citing a record loss of $21 million and stiff competition. The return to Kauai will add 32 jobs on Kauai and Oahu, the release said.
The airline’s previous owners, Larry Ellison’s Ohana Airlines, LLC., will continue to be a shareholder in the company, according to a press release.
“It has been a privilege to work with the talented people at Island Air. I leave confident knowing that the airline and its fantastic people are in extremely capable hands,” said Dave Pflieger, former Island Air CEO.
New Island Air officers include Murasige, president and CEO, David Uchiyama, chief commercial officer and Rob Muracher, chief operating officer.
Based in Honolulu, PacifiCap is an investment firm.
