May 29, 2016 9:47 AM ET

Airlines

Company Overview of PT Tigerair Mandala

Company Overview

As of July 1, 2014, PT Tigerair Mandala went out of business. PT Tigerair Mandala provides air transportation services. It runs aero planes to Australia, Singapore, Bangladesh, Cambodia, China, India, Hong Kong, Japan, Macau, Malaysia, Maldives, Myanmar, the Philippines, South Korea, Taiwan, Thailand, and Vietnam. The company was formerly known as PT Mandala Airlines. PT Tigerair Mandala was founded in 1969 and is headquartered in Jakarta, Indonesia.

Wisma Soewarna Unit 1C-1G

Soekarno-Hatta International Airport

Tangerang

Jakarta,  19110

Indonesia

Founded in 1969

Phone:

62 21 559 12882

Fax:

62 21 559 12889

Key Executives for PT Tigerair Mandala

PT Tigerair Mandala does not have any Key Executives recorded.

PT Tigerair Mandala Key Developments

Tigerair Mandala Reports Operating Results for the Month of June 2014 and Twelve Months Ended June 2014

Tigerair Mandala reported operating results for the month of June 2014 and twelve months ended June 2014. For the month of June 2014, the company reported passengers booked of 89,000 compared to 192,000 a year ago. Available seat-km was 168 million compared to 265 million a year ago. Passenger load factor was 83.9% compared to 90.2% a year ago. For the twelve months ended June 2014, the company reported passengers booked of 1,833,000 compared to 1,127,000 a year ago. Available seat-km was 3,609 million compared to 1,926 million a year ago. Passenger load factor was 75.2% compared to 75.1% a year ago.

PT Mandala Airlines to Cease Operations from 1 July 2014

The Board of Directors of PT Mandala Airlines (Mandala) announced that its airline (operating under the brand name of Tigerair Mandala) will cease operations from 1 July 2014. Tiger Airways Holdings had acquired a 33.0% stake in Mandala in January 2012, and increased it to 35.8% in September 2013 through its wholly owned subsidiary, Roar Aviation Pte Ltd. Together with the Saratoga Group and PT Cardig International, the key ultimate shareholders of Mandala have vigorously explored various options in recent months. The partners concluded that Mandala would not be able to sustain its operations. As a result, they have decided to cease funding the airline.

Sale of Tigerair Mandala Unsuccessful

PT Tigerair Mandala will cease operations from next month after an unsuccessful effort to sell the struggling airline. In a statement on June 18, 2014, Tiger Airways Holdings said the shareholders of Mandala had "vigorously explored various options in recent months" before deciding to cease funding the airline as it could not operate sustainably. Tigerair's three shareholders, Tiger Airways Holdings, Saratoga Group and PT Cardig International decide to cease funding airline as it could not operate sustainably. This comes after reports last week that budget carriers Citilink and AirAsia had both pulled out of talks to buy Tigerair Mandala.

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Recent Private Companies Transactions

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