Oracle CEO Ellison buys Hawaii's Island Air

SAN FRANCISCO Thu Feb 28, 2013 12:55am IST

1 of 2. Oracle Chief Executive Larry Ellison delivers his keynote address at Oracle Open World in San Francisco, California September 30, 2012.

Credit: Reuters/Robert Galbraith/Files

Related Topics

SAN FRANCISCO (Reuters) - Billionaire Larry Ellison can now afford to fly commercial - on his own commercial airline, that is.

The Oracle Corp ORCL.O chief executive on Wednesday 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 $36 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 percent of Lana'i last year, he said he intended to turn the island into a "laboratory" for green living.

(Reporting By Gerry Shih)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Wipro Results

People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Wipro sees rosier end to year as U.S. clients spend

India's third-biggest software services firm Wipro Ltd , under pressure to improve lacklustre sales growth, said it saw a rosier end to the year as more confident U.S. clients increase spending.  Full Article 

Reuters Showcase

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

Apple-1 Auction

Apple-1 Auction

Early Apple computer sells for $905,000 at auction.  Full Article 

No More Nokia

No More Nokia

Microsoft looks set to drop Nokia name from smartphones.  Full Article 

User Data Security

User Data Security

Apple CEO discusses security with top Chinese official amid hacking claims - Xinhua.  Full Article 

Patent Wars

Patent Wars

Big Tech winning battle with 'patent trolls'.  Full Article 

Record Season

Record Season

FedEx expects record peak volume of 22.6 million packages on Dec. 15.  Full Article 

Yahoo Earnings

Yahoo Earnings

Yahoo ekes out Q3 revenue gain despite display ad weakness.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage