In efforts to recommence shceduled operations, Mandala Airlines is set to take delivery of an Airbus A320 in November, the first in a series of airplanes that will eventually bring the airline up to the minimum fleet size of 10 aircraft required for by the Ministry of Transportation to operate as a schedule airline in Indonesia.
Indonesian transportation law requires scheduled air carriers to have a minimum fleet of ten aircraft, five of which must be wholly owned.
Bisnis.com quotes Devis Wirawan, the investment manager of Saratoga Capital, who are taking the lead in efforts to recapitalize the airline for a comeback, as saying they have applied to the government for an exemption for the “10 aircraft rule” which they claim cannot possibly be fulfilled before the end of 2011.
Devin, representing Saratoga as the majority shareholder in Mandala Airlines, told the press that they are still creating a business plan for the airline for the coming three years, although no decision has been made on the specific market and routes that will be used by the revitalized airline when it commences operations.
In late September Mandala Airlines, the Saratoga Group and Tiger Airways have signed an agreement on shareholdings. Saratoga own 51% of Mandala Airlines. Tiger Airways 33% and the remaining shares of the company held by former shareholders and creditors.
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