Jakarta-based low-cost carrier (LCC) Mandala Airlines (RI) relaunched operations Thursday with international service from Medan (MES), Indonesia to Singapore after undergoing financial restructuring last year. Domestic services from Jakarta to MES began April 5 with 12 weekly flights. It has a fleet of new Airbus A320s.
RI, which was grounded Jan. 13, 2011 due to its large debt, was cleared by Indonesian authorities to fly again in February after it completed a restructuring process, which included a cash injection by Singapore-based LCC company Tiger Airways Holdings. Tiger now owns 33% of RI, while Indonesian investment company Saratoga Group holds a majority 51.3% stake; the remaining 15.7% is owned by RI’s previous shareholders and creditors.
Article Source : ATW Daily News
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