Singapore - Singapore budget carrier Tiger Airways on Thursday said it had agreed to buy a 33-per-cent stake in Indonesia's PT Mandala Airlines for an undisclosed amount.
Mandala Airlines is currently undergoing a financial restructuring process in accordance with Indonesian laws, Tiger Airways said in a statement.
The airline planned to adopt the Tiger Airways business model, offering low-fare travel to destinations within a 5-hour flying radius from Indonesia, it said. Full story
Related:
Mandala Airlines Saved in Deal with Tiger Airways, Saratoga - The Jakarta Globe
Tiger Airways to buy 33 pct stake in Indonesian budget carrier - Xinhua
Tiger Air Seeks More Tie-Ups to Expand Asia Network After Indonesia Deal - Bloomberg
