Tiger bites into Indonesia’s Mandala

The restructured Mandala will adopt the Tiger Airways business model following completion of the Singapore-listed airline’s 33% investment.

Tiger Airways’ investment in PT Mandala Airlines will be held through its wholly-owned subsidiary in Singapore, Roar Aviation Pte. Ltd.

The largest shareholder in the restructured Mandala will be the Saratoga group, which will hold a 51.3% stake. The remaining 15.7% will be held by the previous shareholders and creditors of Mandala.

The next stage of the process is to reactivate Mandala’s Air Operator’s Certificate, which has been frozen since the suspension of its operations in January 2011. The AOC is expected to be reactivated in February 2012, after which flight sales will commence ahead of the resumption of flights in April 2012.

The airline, which has undergone a financial restructuring process in accordance with Indonesian law, plans to offer low fare travel to international and domestic Indonesian destinations within a 5-hour flying radius. The restructured airline would also operate Airbus A320 aircraft like other airlines in the Tiger Airways Group.

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Tags: Tiger Airways investment in Mandala