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Posted: Wednesday, February 27th, 2013 9:16 AM HST

Oracle's Larry Ellison buys small Hawaii airline

By Associated Press

HONOLULU (AP) — Oracle Corp. CEO Larry Ellison is buying a small Hawaii airline, less than a year after he bought most of the Hawaiian island of Lanai. Island Air said Tuesday there would be no layoffs or other staff changes after its sale to Ohana Airline Holdings LLC, a company owned by the billionaire. Terms of the deal weren't disclosed. The spokesman for another Ellison company says the purchase is a major investment and commitment to Hawaii. Paul Marinelli, of Lawrence Investments LLC, says Ellison understands the critical importance of transportation in an island state. He says Island Air will strengthen its role, capacity and service to Hawaii. Ellison bought most of Lanai last June. Island Air offers 224 weekly flights between Oahu, Maui, the Big Island, Kauai, Molokai and Lanai.