30 Jan '12, 8am

Tiger Airways buys 33% stake in Indonesia carrier PT Mandala

Tiger Airways buys 33% stake in Indonesia carrier PT Mandala

Singapore budget airline Tiger Airways said on Monday it had bought a 33 per cent stake in beleaguered Indonesian carrier PT Mandala Airlines as part of its regional expansion plans. -- ST PHOTO: CHEW SENG KIM SINGAPORE (AFP) - Singapore budget airline Tiger Airways said on Monday it had bought a 33 per cent stake in beleaguered Indonesian carrier PT Mandala Airlines as part of its regional expansion plans. The investment will see Tiger Airways become the second biggest shareholder in Mandala, which has undergone financial restructuring after being grounded in January last year due to massive debts. Indonesian investment company Saratoga Group will hold a 51.3 per cent stake while the remaining 15.7 per cent will be held by Mandala's previous shareholders and creditors. Tiger said in a statement the investment in Mandala will be be held through a wholly-owned subsidiary, R...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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