Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Requesting Take-Off Clearance
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Requesting Take-Off Clearance

Mandala Airlines Must Overcome Due Diligence Reviews and a Troubled Investor Before the Indonesian Airline Can Once Again Take Flight.


Bali News: Indonesia, PT Mandala Airlines, Tiger Airways, Saratoga Capital, Devin Wirawan, due diligence
Click Image to Enlarge

(7/11/2011)

Bisnis.com says that plans to salvage and restart grounded PT Mandala Airlines may unravel if due diligence tests now being conducted on the airlines shows the company to be non-viable.

According to press reports, the due diligence examination process is nearly half-completed in an eventual deal that would see Indonesia’s Saratoga Capital acquire 51% of Mandala and Tiger Airways 33%.

The corporate secretary of Saratoga Capital, Devin Wirawan, warned that if the financial review determined the airline was financially or ooperationally non-viable, his company would withdraw for the project.

“We must calculate first; this is done via a due diligence study that is half-completed. If it is shown that Mandala is (too) difficult to be salvaged, we will withdraw and not invest,” explained Wirawan.

Devin explained that a decision to withdraw would occur if the due diligence revealed unexpected levels of debts and obligations that would find make establishing a new airline a better option.

Mandala Airlines ceased operations on January 13, 2011.

Wirawan, however, was quick to add: “From the due diligence process, which is 50% completed, show the results are positive. So far, Mandala is fit to retain, we’ve yet to find a major problem. It’s still O.K..”

The due diligence process reviews finances, company infrastructure, management and resources.

Adding another layer of complication to Mandala’s recovery plans are problems that emerged last week surrounding candidate investor Tiger Airways. The Singapore-owned company’s Australian subsidiary was grounded for safety violations, forcing the resignation of the Australian airline’s CEO and a 20% drop in the Tiger Airways stock price.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Food, A Mother Taught it to Be Cooked
Four Seasons Sayan Launches French Bistro Concept on the Banks of the Ayung River in Ubud, Bali
(5/29/2015)
Food, Glorious Food in the Hills of Bali
Ubud Food Festival Premieres June 5-7m 2015
(5/29/2015)
Australian Boat People Land in Bali
Craig Carterís Sailing Yacht ĎIndianí Wins Line Honors in Fremantle to Bali Race
(5/29/2015)
An Uneasy Truce
Conflict Breaks Out Between Groups Claiming to Run Security at Sky Garden in Kuta, Bali
(5/24/2015)
To the Batcave
20 Kiosks at Goa Lawah Bat Caves Consumed by Fire
(5/24/2015)
Failing to Linger
Average Length-of-Stay in Starred Hotel in March 2015 was 3.25 days.
(5/24/2015)
Beach Assaults
Beach Wrestling on Baliís Kuta Beach September 18-19, 2015
(5/24/2015)
Ending Tobacco Promotion in Denpasar, Bali
Mayor Prepares to Ban all Public Advertising for Tobacco Products in Denpasar, Bali
(5/24/2015)
A Mynah Violation of the Law
Police Confiscate 6 Protected Bali Starlings from an Ubud Bird Collection.
(5/24/2015)
Making Benoa Ship Shape
Detailed Mapping of Port of Benoa, Bali and it Approaches Completed by Hydro-Oceanographic Office
(5/24/2015)
Spouting Off on Sanur Beach
A Pod of Pilot Whales Take Up Temporary Residence Off Sanur Beach in Bali
(5/24/2015)
The Slow Hand of the Law
Badung, Bali Officials Prepare to Place The Crystal Bali on the Bay Resort Project Under Seal
(5/24/2015)
All [News]!