Tiger Buying Share Of Grounded Mandala

By Leithen Francis .

Singapore-based airline group Tiger Airways is moving into the Indonesian market by buying a 33% stake in Mandala Airlines, a low-cost carrier that has been grounded since January due to financial problems. Tiger announced plans for the investment on May 19.

Tiger says Mandala’s largest shareholder will be Indonesian investment firm Saratoga Group, with a 51% stake. The ...

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