26-Sep-2011 9:35 AM

Tiger Airways purchases 33% stake in Mandala Airlines

Tiger Airways purchased (23-Sep-2011) a 33% equity stake in Mandala Airlines. The investment will be held through Tiger's wholly owned subsidiary in Singapore, Roar Aviation Pte Ltd. The next stage of the investment process satisfying certain conditions, includes regulatory approvals. The process is expected to be completed in approximately 90 days, after which flight operations are expected to commence. The restructured airline will adopt the Tiger Airways business model, and plans to offer low-fare travel to international and domestic Indonesian destinations within a five-hour flying radius and operate A320 aircraft. [more - original PR]

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