Singapore-listed low cost carrier Tiger Airways Holdings said it has signed a deal to buy a 33% equity stake in Indonesia’s PT Mandala Airlines. The restructured airline is due to fly soon after the acquisition transaction with Tiger Airways and Indonesian strategic investment firm Saratoga Group was finally closed on Friday. Debt of Rp 2.45 trillion (US$286.65 million) caused by high lease rates led Mandala to cease operations earlier this year. Eleven leased aircraft have been returned. Mandala executives concluded conditional sales and purchase agreements and other legal and commercial documents with the Saratoga Group as the financial investor and
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