SINGAPORE (Yosefardi) – PT Mandala Airlines is set to cease airline (operating under the brand name of Tigerair Mandala) from 1 July 2014.
Tiger Airways Holdings had acquired a 33.0% stake in Mandala in January 2012, and increased it to 35.8% in September 2013 through its wholly owned subsidiary, Roar Aviation Pte Ltd.
Together with the Saratoga Group and PT Cardig International, the key ultimate shareholders of Mandala have vigorously explored various options in recent months.
The partners concluded that Mandala would not be able to sustain its operations. As a result, they have decided to cease funding the airline.
Indonesia remains an important market, then Tigerair Mandala will continue to maintain an active presence through Tigerair Singapore.
Mandala will continue to operate its scheduled services until its last flight RI545 on 1 July 2014, which will depart Hong Kong for Denpasar at 0235 hours.
All other flights on 1 July and there after will be cancelled. As a gesture of goodwill, Tigerair Group will provide all affected customers with a flight transfer where possible, or a refund on the ticket.
Customers requiring assistance on flight transfer or ticket refunds must contact the Mandala or the Tigerair call centre by 31 July 2014.