In news from Singapore based Tiger Airways, the airline has proposed the purchase of 33 % of PT Mandala Airlines of Indonesia. The latter is currently undergoing financial restructuring according to Indonesian law. The restructured airline also announced plans to adopt the highly successful Tiger business model for future operations.
According to the news, the largest shareholder in revamped Mandala will be Saratoga group at 51%, followed by Tiger at 33%, and then 16% held by various creditors and shareholders. Chief Executive Officer of Tiger Airways, Chin Yau Seng, added:
“We are pleased to have reached agreement for this transaction, and are excited at the prospect of Mandala resuming operations. We will continue to work closely with our business partner in this venture in order to achieve this.”
At the core of Mandala’s new planning are low cost solutions for domestic and international “hops” within a 5 hour flight radius – not unlike all other Tiger airlines. Also, it is suggested Mandala will adopt the popular Airbus A320, like other Tiger extensions, as well. For more on this and other Tiger news, please visit their corporate site via the links above.