Correction not billion but trillion
It is trillion. You are right. USD4.5 Mil loss per month in 2013 and CEO happy to expand in the domestic market and loss making routes.
Well let me see, Merparti managed to ramp up a 32 trillion rupiah loss in over 35 years and Mandala management tops it with 1.3 trillion in just under 14 months.
Well the question is when Saratoga will pull the plug and the adventure becomes too hot for Tigerair which is also struggling. Sale of 60% in TT in Australia and loss making SE Air to Cebu helped to make the P&L look better but the truth is a different one.
And now a new joint venture in Taiwan with a legacy carrier. Well didn't Air Asia just fail in Japan with a legacy airline??
It all comes down to management and Mandala is a fine example for very bad management. I feel sorry for all the guys out there. No Bali base, no commuting roster, no Captain upgrade, in fact no line training for newly hired pilots!!!