Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Itís Nice to Share
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

Itís Nice to Share

Time Running Out for Merpati Nusantara to Restructure Debts to Shares


Bali News: Indonesia, Merpati Nusantara Airlines, MZ, Minister of State-Owned Companies, BUMB, Dahlan Iskan, Asep Ekanugeraha, DXebt restructuring
Click Image to Enlarge

(7/6/2014)

NusaBali reports that the now-grounded PT Merpati Nusantara Airline (MZ) will not fly again unless its outstanding loans are converted to shares.

According to Dahlan Iskan, the Minister of State-owned Enterprises (BUMN), the government would be wasting its time if it injected funds into MZ if its debt was not first converted to shares.

Clarifying his position, Dahlan added, “For instance, restructuring funds of Rp. 200-400 billion will only allow the airline to fly for a month, and then be grounded again.”

Dahlan says no restructuring fund will be released to MZ when it is still heavily burdened with debt. As a result, Dahlan has asked the commission supervising BUMN at the House of Representatives (DPR) to understand MZ’s current financial position and quickly pave the way for a restructuring of the airline’s debt in order they can resume flight operations.

Through January 2013, Merpati’s debt totaled Rp. 7.6 trillion.

The airline ceased operations in February due to severe cash shortages.

In order for the desired conversion of debt to shares to take place, the Airline’s creditors must agree to the scheme and permission must be given beforehand by the finance commission of the DPR.

Dahlan contends that when the Airline’s debt is converted to shares the balance sheet of Merpati can become positive as its debt will disappear, clearing the way for loans and new investors.

Separately, the CEO of Merpati, Asep Ekanugeraha, cautioned that the conversion of debt to shares must be done soon because the flight operating certificate of the Airline will expire in February 2015. Failure to begin flight operations again before that deadline will cause the Ministry of Transportation to declare the now frozen operating certificates irrevocably suspended.

Related Articles

Gravity Exerts its Grip

The Final Flight?

Merpati – Harus Mati?


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Slightly Higher than Target
Bali by the Numbers: Bali Ends 2017 with 5.7 Million Foreign Visitors
(2/25/2018)
Immunizing Manís Best Friend
Baliís Capital of Denpasar Undertakes Mass Vaccination Campaign on Dogs and Cats to Keep Rabies at Bay
(2/25/2018)
His and Her Excellencies Come to Bali
Foreign Ambassadors Posted to Indonesia Hosted to Weekend Tour of Bali
(2/25/2018)
Tourists with Drugs Unwelcome
German and British Citizens Arrested for Smuggling Drugs into Bali
(2/25/2018)
Russian Woman Dies at Nusa Penida
Russian Woman Dies After Plunging Down 200-meter Cliff on Nusa Penida, Bali following Motorcycle Mishap
(2/25/2018)
When a Hero Holidays in Bali
Birmingham Firefighter Comes to the Rescue of a Tourist who Fell 40-meters into a Volcanic Crater
(2/25/2018)
Hello Mudduh, Hello Faddah
Kids Go Glamping at The Ritz-Carlton, Bali
(2/25/2018)
Feeling Socially Secure in a Public Park
Indonesiaís Social Security Agency (BPJS) to Open a ĎGreen Spaceí in Gianyar, Bali
(2/25/2018)
Basa Bali, Sing Kenken
BASABali Wiki Working to Preserve and Protect Balinese Language and Culture
(2/25/2018)
Pacto Plots the Journey Ahead
Pacto Celebrates 50 Golden Years with Launch of a New Logo
(2/25/2018)
Managing Disruptions from Eruptions
Head of Bali Tourism Board Says Baliís Exemplary Handling of Evacuees from Mt. Agung Demonstrates Islandís Crisis Management Skills.
(2/25/2018)
Baliís Ambassadress of Beauty
Ayu Mirah Crowned Miss Bali 2018
(2/25/2018)
All [News]!