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Island Air closed the sale of the airline today to a newly formed holding company owned by Lawrence J. Ellison. The sale secures the future of Island Air and its employees. “This is another major investment and commitment to Hawaiʻi,” said Paul Marinelli, vice president of Lawrence Investments, LLC. “We understand the critical importance of transportation in an island state and we will ensure that Island Air strengthens its role, capacity and service to the people of Hawaiʻi. We recognize the need for providing options for travelers, and we believe Island Air has tremendous potential to deliver value to both residents and visitors.” To view Multimedia News Release, go to http://www.multivu.com/mnr/60491-island-air