Hawaiian Holdings, the parent company of Hawaiian Airlines, is purchasing the operating certificate and other assets of the bankrupt Island Air for $750,000.

On December 19, 2017, the United States Bankruptcy Court granted preliminary approval for Hawaiian Holdings to purchase the operating certificate of Island Air for $450,000 and other assets for additional $300,000. The other assets include ground service equipment, intellectual property, customer lists, training manuals, tools and equipment, collectibles, etc. The assets, in which Elix Aviation Capital, Xced Aviation Services, Bombardier, Learjet has the lessor’s or secured creditor’s interest, are excluded.

In November 2017, Hawaiian Airlines launched three initiatives demonstrating an interest in the bankrupt carrier’s business. The company took over some customers holding Island Air’s tickets on flights between November 11 and 17, 2017 at certain destinations within Hawaii. At the same time, the carrier also announced three extra roundtrip flights from Honolulu “in anticipation of high passenger traffic resulting from Island Air’s shutdown”. It also held an open house for former Island Air employees.

Island Air was a regional airline that operated scheduled inter-island passenger in Hawaii. Established in 1980, it operated for 37 years before filing for bankruptcy on October 16, 2017 and ceasing operations on November 10, 2017 due to insolvency.