Tiger pounces on Mandala airlines

Tiger Airways today announced its acquisition of a 33% stake in Indonesia's PT Mandala Airlines. And as Mandala undergoes a financial restructuring process, it plans to adopt the Tiger Airways business model.

Mandala also plans to offer low fare travel to international and domestic destinations within a 5-hour flying radius from Indonesia. Like other airlines in the Tiger Airways Group, the restructured airline would also operate Airbus A320 aircraft. Flight and cabin crew will be based in Indonesia.

The largest shareholder in the restructured Mandala will be the Saratoga group, which will hold a 51.0% stake. The remaining 16.0% will be held by the previous shareholders and creditors of Mandala.

Tiger Airways will make further announcements as and when it enters into definitive agreements.