Citilink (QG, Jakarta Soekarno-Hatta) has expressed an interest in acquiring Tigerair Mandala (Jakarta Soekarno-Hatta) according to reports in the Jakarta Post. The paper states that Saratoga Capital, the majority shareholder in Mandala, is currently considering bids from all possible candidates.

“As a representative of Saratoga, I have handed over the investor assessment to the management in order to find the best strategy for keeping Tigerair Mandala alive,” Sandiaga S. Uno, a founding partner of the equity firm Saratoga, told The Jakarta Post.

Late last month, Citilink’s president director, Arif Wibowo, confirmed his airline was keen to acquire Tigerair Mandala as means of boosting its regional connectivity.

“That is right, we intend to take over Tigerair,” Arif was quoted saying. “[We wish to] strengthen Citilink’s development and expansion programs in the future.”

The Garuda Indonesia (GA, Jakarta Soekarno-Hatta) subsidiary's bid has been submitted with a response issued, Arif noted.

The struggling Tigerair (Singapore Changi) subsidiary has grounded multiple flights in the last few months in the face of growing competition from Lion Air (JT, Jakarta Soekarno-Hatta) and Indonesia AirAsia (QZ, Jakarta Soekarno-Hatta) exacerbated by Indonesia's weakening Rupiah. In its Q4 2013 financial report, the carrier reported a loss of USD32.02million prompting reports Singapore would either sell off the airline or find it a new owner.

In a bid to ease fiscal pressure, four of its eight A320s are expected to be leased to PIA - Pakistan International Airlines (PK, Islamabad International).