Tiger Airways shuts loss making Indonesian airline
Tiger Airways is to stop flying its loss making Indonesian venture, Mandala, as it tries to restructure.
The low cost airline, part-owned by Singapore Airlines, said Mandala will cease flights from July 1, in a statement to the Singapore stock exchange yesterday.
It said the Indonesian venture would be unable to sustain its operations and the airline’s key shareholders decided to cease funding.
Tiger Air has been grounding planes and cancelling aircraft orders as part of a restructuring after mounting losses led largest shareholder Singapore Air to name a new chief executive officer for the low-fare airline, reports Bloomberg.
Budget airlines in Southeast Asia face stiff competition with half a dozen carriers in the market.
Diane
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025
U.S.A. and Israel attacks on Iran impact air movements in the Gulf (Update 1.00pm CET)
Global tourism exceeds 1.5 billion travelers announces UN-Tourism