Mandala Airlines restructures as a Tiger Airways company, will relaunch operations as a LCC

Mandala Airlines (Jakarta) previously suspended scheduled operations on January 13, 2011. In May 2011, Tiger Airways Holdings (Singapore) and Saratoga Investama, an Indonesian strategic investment company owned by Sandiaga Uno, announced plans in a filing in the Singapore Stock Exchange to relaunch the airline. The deal was signed and approved on September 24.

Saratoga own controls 51 percent of the stock, followed by Tiger Airway’ 33 percent, with the remaining 16 percent owned by the airline’s existing shareholders and the creditors through a debt-to-equity agreement.

Mandala will relaunch operations within 90 days using the Tiger Airways LCC model using Airbus A320 aircraft.

Read the full report from The Jakarta Post: CLICK HERE

Mandala Slide Show: CLICK HERE

Copyright Photo: John Adlard. Please click on the photo for information on the reborn airline.