Hawaii Island Air, Inc. recently announced today that it has entered into an agreement that it believes will lead to a sale of the company to an undisclosed buyer.
"This is a great opportunity for the future of the company," said Les Murashige, Island Air's president, in written release. "The company has gone through a number of challenges recently and a new owner will bring a fresh perspective to the company."
Murashige said there are a number of hurdles that must be cleared before the closing of the transaction. He expressed optimism the hurdles would be cleared and the new ownership would be in place within the next six to eight weeks.
"There has been a lot of hard work and due diligence done over the holidays," he says. "We are prepared to move forward and have been meeting with the relevant groups who have a role in making this happen."
Island Air is one of Hawaii's leading regional carrier, serving airports on all major Hawaiian Islands. It was founded in 1980.
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