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Indonesia's Mandala Airlines suspends flights over debt problems
January 12, 2011 / 1:35 PM / in 7 years

Indonesia's Mandala Airlines suspends flights over debt problems

JAKARTA, Jan 12 (Reuters) - Indonesia’s PT Mandala Airlines, a national budget carrier, will suspend flights from Wednesday as the company struggles with debt problems, President Director Diono Nurjadin told a news conference.

“We think this is the best step to guard the future prospects of Mandala,” he said. “Starting tomorrow we will stop operations temporarily to be able to focus on restructuring the company.”

He said the company had asked the commercial court to delay debt recovery action against the airline, also saying that Mandala had received interest from buyers for a stake. (Reporting by Aditya Sukarmoto; Writing by David Fox; Editing by Neil Chatterjee)

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