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.

       

 
Plaga Wine
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
... And the Law Won
Amokrane Sabet (49) French Expat Wanted for Questioning Shot Dead in Altercation with Bali Police
(5/2/2016)
End of an Era in Bali-Australia Tourism
Garuda Orient Holiday Australia Closing
(5/2/2016)
Plays Latin, Our Satin Doll
Jazz Legend Nits Aartsen to Perform at Casa Luna Restaurant in Ubud, Bali Sunday, May 22, 2016
(5/2/2016)
Slapping a Roaming Wrist
Noa Pardue Gets Off with Rp. 250,000 Fine for Stealing a Pair of Underwear from an Ubud Shop
(5/2/2016)
Taking Out the Garbage
PT NOEI Fired From its Management Role at TPA Suwung Rubbish Dump
(5/2/2016)
A Northern Approach to Bali
Governor to Issue Recommendation for Dwijendra International Airport in North Bali
(5/2/2016)
Solemen Fun Day at Waterbom Park
Solemen Dispenses Smiles and Fun Memories to Some of Baliís Most Downtrodden
(5/2/2016)
Saving the World, One Island at a Time
Lembongan Island Says No to Plastic on Earth Day 2016
(5/2/2016)
An Epitaph Written at Stones
Australian Teen Dies in Bali While Illegally Operating a Motorcycle
(5/2/2016)
Carmen Miranda: Hey, Thatís my Hat!
Balinese Village Build 2.5-Meter High Tower of Fruit as Offering to Monkeys at Alas Kedaton
(5/2/2016)
Be an Idol!
Open Mike Amateur Night for Aspiring Singers with the Bali Community Choir at The Onion, Sanur, Bali on Tuesday, May 17, 2016
(5/2/2016)
Sink and Win!
Emirates Airlines Sponsors Hole in One Extravaganza at Bali National Golf Resort
(5/2/2016)
All [News]!