Hawaii's Island Air has been sold to a newly formed holding company owned by billionaire Larry Ellison.
The sale secures the future of Island Air and its employees.
Hawaii News Now reports Island Air has a new ATR 72 aircraft that has been certified by the FAA.
There are no planned staff changes and Island Air will continue its operations as usual while developing plans for additional planes, routes and services.
Mr Ellison, who is the owner of the Oracle Corporation, also bought the island of Lanai in Hawaii last year, for more than 500 million US dollars.