Mandala Airlines, which halted operation in January for financial restructuring, will likely be rebranded Tiger Mandala after its recent acquisition by Saratoga Capital and Singapore-based Tiger Airways.
Saratoga Capital co-founder Sandiaga Uno said that regulations required the airline to keep “Mandala” in its name.
“We will comply with the regulation. We haven’t decided on the name yet. Perhaps, it will be Tiger Mandala,” Sandiaga said on Friday.
Saratoga Capital acquired 51 percent of Mandala in May while Tiger Airways acquired 33 percent. Other creditors hold the remaining 16 percent through a debt-to-equity swap.
Sandiaga said that Mandala was waiting for the government to remove a flight suspension imposed after the airlines halted operation due to Rp 2.45 trillion (US$286 million) in debt.
“We have fulfilled all requirements and hope that the government will grant the license before the year end, so that we can fly in the first quarter next year,” he said.
According to Sandiaga, five Airbus 320s were ready and would be brought to Indonesia after the airline obtained a license. (rcf)