Hawaii's Island Air Signs Letter Of Intent To Lease Five ATR 42 Jet Prop Aircraft

HONOLULU, Sept. 10, 2012 /PRNewswire/ -- Hawaiian regional carrier, Island Air, announced the signing of a letter of intent today, leasing five ATR 42 jet prop aircraft. The announcement is the next step in the carrier's New Business Plan (NBP) launched earlier this year. 

(Photo: http://photos.prnewswire.com/prnh/20120910/NY70932)

The agreement was reached with Chicago's Aerway Leasing, LLC for 5 ATR 42 jet prop aircraft which will enable a dramatic upgrade in scale and service for the airline.

"These aircraft represent an integral part of our plan to deliver on our service commitment to the  ever increasing number of guests flying with us each day and is the next step in our NBP," Island Air CEO, Lesley Kaneshiro, said of the deal. "It's a very exciting time at Island Air as we have a lot to look forward to. We are dedicated to showcasing Hawaii's unique Aloha Spirit and cultural diversity by conveying our traditional Hawaiian hospitality."

Stephen Kennicott, Managing Director of Aerway Leasing, LLC spoke of the deal, "We are thrilled with our new partnership with Island Air and look forward to supporting them in Hawaii."

The first two aircraft are set to arrive in Honolulu by end of year with three more joining the fleet in the summer of 2013.

About Island Air

Founded in 1980 to provide scheduled service between Princeville and Honolulu, the airline now offers more than 350 weekly flights between the islands of O'ahu (Honolulu International Airport), Maui (Kahului Airport and West Maui's Kapalua Airport), Moloka'i (Ho'olehua Airport), Lana'i (Lana'i City Airport), Kaua'i (Lihue Airport), and the Island of Hawai'i (Kona International Airport).  For reservations and free membership in the Cloud 9 Rewards Program, visit www.IslandAir.com.

About ATR:

Founded in 1981, ATR has become the world leader on the market for regional aircraft with 90 seats or less. Since its creation, ATR has sold approximately 1,200 aircraft to over 180 operators in 91 countries. ATR is an equal partnership between two major European aeronautics players, Alenia Aermacchi (a Finmeccanica Group company) and EADS. Its head office is in Toulouse (France).

About Aerway Leasing, LLC

Aerway Leasing, LLC  (Aerway) is an aviation leasing company based out of the midwest with offices in Illinois and Wisconsin. An aviation leasing, asset management, and sales company, Aerway actively acquires, manages, leases, trades and tears down commercial aircraft and engines.

SOURCE Island Air