Display advertisements have appeared in leading national newspapers over the past two weeks seeking applications from financial and legal advisors to help take ailing domestic carrier Merpati Nusantara Airlines to privatization.
Those seeking such a role had until Friday, July 16, 2004, to declare their interest in helping the carrier dispose of 51 percent of its shares in order to provide desperately needed cash injections to help the airline continue operations.
Burdened by an estimated Rp. 1.3 trillion in debt (approximately US$ 145.3 million), Merpati operates 42 aircraft serving 102 cities.
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