Media Release 18 June 2014 Tigerair Mandala To Cease Operations From 1 July 2014

Affected customers to receive flight transfer or airfare refund from

Tigerair Group

The Board of Directors of PT Mandala Airlines ("Mandala") announced this evening that its airline (operating under the brand name of Tigerair Mandala) will cease operations from 1
July 2014.
Tiger Airways Holdings had acquired a 33.0% stake in Mandala in January 2012, and increased it to 35.8% in September 2013 through its wholly owned subsidiary, Roar Aviation Pte Ltd. Together with the Saratoga Group and PT Cardig International, the key ultimate shareholders of Mandala have vigorously explored various options in recent months. The partners concluded that Mandala would not be able to sustain its operations. As a result, they have decided to cease funding the airline.
"Mandala's financial results reflect the challenges that it is facing in the difficult operating environment. The partners in Mandala have jointly come to the conclusion to cease funding the airline's operations. Nevertheless, Indonesia remains an important market for us, and we will continue to maintain an active presence through Tigerair Singapore," said Mr Lee Lik Hsin, Group CEO of Tigerair.
The decision to pull out of Mandala will enable Tigerair Group to focus on its turnaround strategy, which includes fleet consolidation, strategic alliances and an asset-light growth model.
Mandala will continue to operate its scheduled services until its last flight RI545 on 1 July

2014, which will depart Hong Kong for Denpasar at 0235 hours. All other flights on 1 July and thereafter will be cancelled.

As a gesture of goodwill, Tigerair Group will provide all affected customers with a flight transfer where possible, or a refund on the ticket.
Customers requiring assistance on flight transfer or ticket refunds must contact the Mandala or the Tigerair call centre by 31 July 2014. They may also check the Tigerair website
(tigerair.com) for more information.

About Tigerair

Tigerair, established in 2004, is a leading Singapore-based no-frills airline that offers affordable travel options and a seamless customer experience.
With a fleet of Airbus A320-family aircraft, the Group operates flights to over 50 destinations across Asia Pacific countries such as Singapore, Australia, Bangladesh, Cambodia, Greater China, India, Indonesia, Malaysia, Maldives, Myanmar, Philippines, Taiwan, Thailand, and Vietnam.
Tigerair empowers travellers to explore new destinations, and accumulate memorable experiences, by offering an increased network of destinations. It is also committed to maintaining the highest standards of safety, security and reliability. For more information, please visit www.tigerair.com

Contact for media:

Yu Jierong
DID: (65) 6422 2388

Email: mediarelations@tigerair.com

Contact for analysts:

Lauren Chan
DID: (65) 6422 2336
Email: investorrelations@tigerair.com

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