Monday, January 31, 2011

Two INVESTORS interested in TAKING OVER the MANDALA Airlines

Mandala Airlines is taking over by two investors

At least two investors are preparing to take over PT Mandala Airlines which is currently experiencing a financial crisis. They are PT LCNC which is a lessor of aircraft and also PT Manunggal Sejati Group Sinarmas Group.

Director General of Civil Aviation Ministry of Transportation, Herry Bhakti said to date only two prospective investors have expressed readiness to become Mandala Airlines investors. "There are offers from several companies but only two were serious," said Herry.

According to Herry Bhakti, PT LCNC is a joint venture between foreign and local. They have quite a lot of aircraft for lease. So if they take over Mandala Airlines, the operationalization of the airline could be expedited.

In the meantime, if up to 45 days from the closing operation, the Mandala Airlines is not also get the investors, then the route permit will be revoked. Permission it could actually be revoked after 30 days, but Ministry of Transportation has provided an extension to 15 days.

Herry Bhakti said Mandala Airlines is still negotiating. Finalization is expected to be done next week. Meanwhile, one of the shareholders of Mandala Airlines, Indigo Partners that is likely to release its shares. "The government only to facilitate, this problem of business to business, we can not interfere," said Herry.

Jusman Syafii Djamal, aviation practitioners say what needs to be done by Mandala Airlines greeted positively. Mandala Airlines also still has the potential to be developed. He said more than 51% of airlines in the United States became the major airlines after a corporate restructuring effort. "For example, Delta Airlines and Continental Airlines are now successfully become a big airline," said Jusman.

Djamal said the Mandala Airlines should be able to take advantage of a 45-day period provided by the commercial court to seek investors. If not capable, then the Mandala Airlines will be declared bankrupt.

But Jusman assess existing bright point of the rescue effort airline. It was seen from the investors who are interested and also a meeting with the creditors. If you've got investors, Mandala Airlines can return to the old strategy by working on medium aviation market by choosing routes fat. If not, Mandala should really pure aviation low cost carrier (LCC) in order to compete with other LCC airlines.