US private equity firms invest in Hawaii’s Kamaka Air

Kamaka Air (KMK, Honolulu) has new majority shareholding with 80% of the business having been sold to two US capital investors, the lawyers advising the airline announced.

Global law firm HFW in a statement said the Hawaii-based inter-island cargo specialist and logistics company had received an undisclosed investment from Trinity Investors in Phoenix, Arizona, and RLG Capital in Salt Lake City, Utah. It would continue to be locally owned and operated by President and co-founder Jim Petrides and Operations Director John Gravener.

Pertides did not immediately respond to a request for comment.

According to the company website, Kamala Air operates a fleet of six Cessna (single turboprop) Caravans on regular same-day scheduled cargo flights and on-demand charters from Honolulu to Kaunakakai on Molokai; Lanai City on Lanai; Kahului; Kona; Hilo; and Lihue.

The only other Honululu-based cargo specialist is Aloha Air Cargo (KH, Honolulu), which operated a much larger fleet and bigger aircraft, including two B737-300(F)s, three B737-300(SF)s, and two B767-300(ERBDSF)s, according to ch-aviation fleets advanced data. It serves the Hawaiian islands as well as Las Vegas Harry Reid and Los Angeles Int’l.