Tiger Airways shuts Indonesian venture

mandalaTiger Airways, the unprofitable low-fare carrier part-owned by Singapore Airlines, said its Indonesian venture Tigerair Mandala will stop flying, as the budget airline tries to restructure operations.

Mandala will cease flights from July 1, Tiger Air said in a statement to the Singapore stock exchange on June 18. Mandala wouldn’t be able to sustain its operations and the airline’s key shareholders decided to cease funding, Tiger said.

Tigerair has been grounding planes and canceling 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. The efforts are symptomatic of the challenges budget airlines face in Southeast Asia, where competition among half a dozen carriers has pushed fares down.

Mandala’s financial results reflect the challenges that it is facing in the difficult operating environment, Tigerair Chief Executive Officer Lee Lik Hsin said in the statement.



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Tiger Airways, the unprofitable low-fare carrier part-owned by Singapore Airlines, said its Indonesian venture Tigerair Mandala will stop flying, as the budget airline tries to restructure operations. Mandala will cease flights from July 1, Tiger Air said in a statement to the Singapore stock exchange on June 18. Mandala wouldn’t be able to sustain its operations and the airline’s key shareholders decided to cease funding, Tiger said. Tigerair has been grounding planes and canceling 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....

mandalaTiger Airways, the unprofitable low-fare carrier part-owned by Singapore Airlines, said its Indonesian venture Tigerair Mandala will stop flying, as the budget airline tries to restructure operations.

Mandala will cease flights from July 1, Tiger Air said in a statement to the Singapore stock exchange on June 18. Mandala wouldn’t be able to sustain its operations and the airline’s key shareholders decided to cease funding, Tiger said.

Tigerair has been grounding planes and canceling 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. The efforts are symptomatic of the challenges budget airlines face in Southeast Asia, where competition among half a dozen carriers has pushed fares down.

Mandala’s financial results reflect the challenges that it is facing in the difficult operating environment, Tigerair Chief Executive Officer Lee Lik Hsin said in the statement.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00