PLANS TO RELAUNCH MANDALA AIRLINES IN 2012

Dino D'Amore
By Dino D'Amore July 4, 2011 08:35

PLANS TO RELAUNCH MANDALA AIRLINES IN 2012

Mandala Airlines is expected to begin operations again from next year after it was acquired by a local investment firm Saratoga Capital.
In an interview with The Jakarta Post, Saratoga Capital investment manager Devin Wirawan, said: “We are undergoing a due diligence and targeting to fly again this year.”

Saratoga Group cofounder Sandiaga Uno said there had been good progress in Mandala’s acquisition: “The transaction’s progress has been good. We hope to finalize it soon,” he said to the paper.

Mandala halted operations earlier this year when it revealed debts of Rp 2.45 trillion (US$286.65 million).

Saratoga Group acquired 51% of the airline’s shares in May, while Tiger Airways acquired 33%. The remaining 16% of equity is held by the airline’s creditors, which resulted through a debt-to-equity swap.

The restructured Mandala Airlines will use A320 aircraft and offer low-fare travel to international and domestic destinations within a five-hour flying radius.

Dino D'Amore
By Dino D'Amore July 4, 2011 08:35
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fplans-to-relaunch-mandala-airlines-in-2012%2F"> registered </a> users can comment.