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
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

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
Fly me to the Ginger Moon
Bali Culinary Professionals Monthly Luncheon at Ginger Moon Ė Saturday, February 28, 2015
(1/31/2015)
An Epidemic of Death
Governor Calls for Detailed Study of Suicide in Bali
(1/31/2015)
A Toothless Tiger
Minister of Transportation Order to Bar Overloaded Trucks from Entering Bali Remains Unenforced in the Face of Defiant Truck Drivers
(1/31/2015)
Tourism Minister Visits Bali
Indonesian Tourism Minister Thinks Bali Needs a 100,000-person Capacity Exhibition Hall
(1/31/2015)
Take Me for What I Am
Indonesian Visitors without Valid KTP Refused Entry to Bali at Gilimanuk Port
(1/31/2015)
When Policemen Take License
NZ Media Couple Report Inappropriate Request from Bali Traffic Cop
(1/31/2015)
International Crime Busters
Australian Federal Police Will Continue to Provide Information to Assist Indonesian Police in the Arrest of Australian Lawbreakers
(1/30/2015)
Left Holding the Bag
Baggage Storage Facilities at Bali Ngurah Rai International Airport
(1/30/2015)
Altitude Sickness
Indonesian Airlines Required to Check Cockpit Crews Health on Each Flight Before Takeoff
(1/30/2015)
Service Charge Included
Garuda to Resume Inclusion of Passenger Service Charge in Ticket Price Effective February 1, 2015
(1/30/2015)
Bali Will Crack Down on Illegal Workers in 2015
Immigration, Police and Manpower Officials to Closely Supervise Foreign Workers in 2015
(1/30/2015)
Five Stars in the Indonesian Skies
Garuda Indonesia Earns Five Star Rating from Skytrax
(1/30/2015)
All [News]!