Mokulele Airlines will launch a new Honolulu to Hilo service starting May 1.

The interisland carrier -- which also operates flights between Honolulu and Kahului, Kailua-Kona and Lihue -- will offer an introductory fare of $35 for the new service for travel through May 31.

Earlier this week, Indianapolis-based Republic Airways acquired a 50 percent ownership stake in Mokulele Airlines and replaced the CEO of the Kona-based company with a Republic executive Scott Durgin, who serves as Mokulele's interim president and CEO.