Mandala Airlines plans to meet govt
The Jakarta Post, Jakarta | Fri, 08/12/2011 2:02 PM
The new management of privately owned Mandala Airlines plans to meet Transportation Ministry officials on Monday, an official says.
“A team from Mandala will come to my office on Monday, including Saratoga [Group] and Tiger [Airways] people,” Air Transportation Director General Herry Bhakti Gumay said Friday.
When asked about the agenda for the meeting, Herry said it was likely the management wanted to discuss their business plans for the troubled airline.
Earlier this year, Mandala announced it would temporarily halt operations after revealing huge debts of Rp 2.45 trillion (US$286.65 million).
In May, Saratoga Group acquired a 51 percent stake in the airline, while Singapore-based Tiger Airways acquired 33 percent.
Other creditors, through a debt-to-equity swap, hold the remaining 16 percent.
Saratoga Group co-founder Sandiaga Uno said there had been good progress in Mandala’s acquisition process and the airline was targeting to fly again this year. (swd)
