Tiger Airways to shut loss-making Indonesian airline

todayonline.com

SINGAPORE "” Singapore budget carrier Tiger Airways Holdings is shutting its loss-making Indonesian operations, a casualty of intensifying competition in Southeast Asia's largest domestic airline market.


Tigerair Mandala will stop operations from July 1, said Tiger, which owns 35.8 per cent of the Indonesian low-cost airline. The decision confirms a Reuters story published in March.


"œTogether with the Saratoga Group and PT Cardig International, the key ultimate shareholders of Mandala have vigorously explored various options in recent months," Tiger said. "œThe partners concluded that Mandala would not be able to sustain its operations. As a result, they have decided to cease funding the airline."

Read full story: todayonline.com

Posted: 19 Jun 2014 23:16:22

  
  

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