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.
Mandala Airlines (Jakarta) was acquired by the Saratoga Group (51%) and Tiger Airways (Singapore) (33%) in May. The grounded airline hopes to be airborne again before the end of the year under the new ownership group. The new Mandala will operate under the Tiger business plan using Airbus A320s. It is unclear if the Mandala brand will be retained or whether Mandala will adopt the Tiger brand which is currently taking a beating in Australia market due to the grounding by CASA.
Read the full story for the Jakarta Post: CLICK HERE
Copyright Photo: John Adlard. Please click on the photo for additional details.
Tiger Airways (Singapore) will partner with investment firm Saratoga Capital to revive defunct and grounded Mandala Airlines.
Read the full story from the Jakarta Globe: CLICK HERE
Copyright Photo: John Adlard. Please click on the photo for additional background details.
Mandala Airlines (Jakarta) suspended all operations today (January 13, 2011) as the company attempts to reorganize.
Copyright Photo: John Adlard. Please click on the photo for additional information.