Saratoga Purchase 51 Percent Shares of Mandala Airlines
September 28rd 2011
SaratogaGroupon
September 23,2011 hassigned ashare purchaseas much as 51%
while the majority shareholder ofMandalaAirlines, whileTigerAirwayshas 33percent,
the remainder held byunsecuredcreditorsandholders
ofold shares. At this timeMandalaAirlinesstillneed complete government approval,theMandala canimmediately
operation (Kompas.com 28 September 2011).