Deals

Oracle CEO adds Island Air to his collection of extravagant purchases

The swim between Malibu and Lana’i is not a short one. Thus it makes perfect sense that Larry Ellison would buy an airline to get him there.

Larry Ellison is the CEO of Oracle and one of the richest individuals in the world. He has a propensity for making extravagant purchases, such as 10 homes in Malibu’s Billionaire’s Beach, a 452-foot yacht, a tennis tournament, a Hawaiian island, and most recently, a small commercial airline.

Island Air is a Hawaiian airline with service between seven destinations. It offers 224 weekly flights between Oahu, the Big Island, Kauai, Molokai, and Lanai. Island Air has been going through a restructuring over the past year, and this deal will help secure its future and growth. The terms of the deal were undisclosed, but Island Air will continue its operations as usual, while developing plans for additional planes, routes, and services.

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

In reality, Ellison owns multiple private planes and probably won’t fly on Island Air. He purchased 98 percent of the 141-square-mile comma-shaped island of Lanai last June for between $500 and $600 million dollars. When you own your own island, I’d imagine the point is to avoid hopping between the others.

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