Indigo Partners yesterday said it has acquired 49% of Indonesia's Mandala Airlines from PT Cardig International Aviation, which purchased the carrier in April and will retain a 51% holding. "The parties recently received the necessary regulatory approvals and closed the investment," said Phoenix-based private equity firm Indigo in a statement. Indigo, which was founded by former America West Chairman and CEO William Franke, also holds 24% of Tiger Airways. Mandala, established in 1969, ...

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