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Mandala Airlines announces plans for major restructuring

14-Jan-2011 7:59 AM

Mandala Airlines confirmed (12-Jan-2011) plans to request a suspension of payment obligation to the Commercial Court allowing its management a 45-day window to submit a business plan to restructure the company. All services were suspended from 13-Jan-2011. [more] [more - HKIA] [more - Macau Airport]

Mandala Airlines: "This is the best course of action to ensure the continued survival of the airline. Over the past few months, Mandala Airlines has been performing at a commercial loss and the situation now is such that we need to restructure the company to pave the way for the entry of new investors. We are confident of attracting new investors to inject additional funds into the airline because, once restructured, Mandala Airlines will be an attractive investment. There is a huge demand for air travel in Indonesia and the market has lots of space for a well-defined and positioned mid-cost carrier." President Director Diono Nurjadin.