Close
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 · In the Event of Rapid Decompression
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

In the Event of Rapid Decompression

Once Again, Merpati Nusantara Airline Short of Cash and Poised for Possible Financial Collapse


Bali News: In the Event of Rapid Decompression
Click Image to Enlarge

(2/10/2012)

The National News Agency Antara reports that the national flag carrier PT Merpati Nusantara once again sits poised on the verge of bankruptcy if it is unable to secure Rp. 250 billion cash (US$27.8 million) injection before June 2012.

“Earlier I met with the management of Merpati to discuss the company’s condition. If in June, they do not obtain funds of Rp. 250 billion, the company is certain to collapse,” explained the Minister for State-Owned Enterprises, Dahlan Iskan.

According to Dahlan, the airline’s management needs the funds to cover the operating costs of the company.

Merpati was the recipient of additional government funds in the amount of Rp. 561 billion (US$62.3 million) in December 2011, six months later than when those funds were actually needed in June. This forced the airline to borrow short-term funds to continue operations, adding to the airline’s overall debt burden.

“This has made the company experience financial problems and impeded the company’s management from implementing its programs,” said Dahlan

Dahlan described Merpati’s current position as one of “life and death.”

Dahlan was quick to add, however, that all the Merpati managers share a firm resolve to make sure that the airline survives and prospers. Adding, “they want Merpari to keep flying and will all endeavor to restore health to the company’s financial position.”

Dahlan said the state-owned carrier had become overly dependent on government funds, and should be able to secure its own sources of capital.

“I can’t guarantee that the government is prepared to inject more cash from the State budget. Because of that, we give full authority to the management to seek its own funding sources. We don’t care from where, banks or anywhere, what’s important is for Marpati to keep operating,” Dahlan emphasized.

CEO Resigns

Dahlan also used the opportunity to inform the public that the CEO of Merpati, Sardjono Tjitrokusumo, had resigned his post.

“This has (now) become an obstacle for the company. His desire to resign is perhaps because he did not believe he could obtain the Rp. 250 billion,” said Dahlan.

Dahlan said members of the senior management of Merpati were unanimous in their desire that Sardjono remain in his lead management role.

Dahlan said he is now thinking where to find a replacement for Sardjono, but there are no candidates in sight who meet the desired criteria.

“I am also of the opinion that Jhonny (Sardjono) must endure as the head of the corporation. I am uncomfortable if we have to replace the leader,’ said the Minister.

Dahlan closed his comments by saying the main point is that all the employees of Merpati maintain their spirit to rebuild the airline and ensure its survival.


© 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
Reducing Fatal Snakebites in Indonesia
Indonesia Needs to Develop a Range of Poisonous Snakebite Serum Vaccines
(11/23/2014)
Imprisoned on Appeal
Supreme Court Send Bali Lawyer Rizaldy Wartuty to Prison for Fraud in a Property Deal
(11/23/2014)
Snatch Thieves, Catch Thieve
Police Arrest Two Pickpockets Operating on Poppies Lane II in Kuta, Bali
(11/23/2014)
Prisoners of Paradise
Bali’s Kerobokan Prison Bursting with Inmates While New Prison Construction in Bangli Stuck in Bureaucratic and Funding Delays
(11/23/2014)
Roadside Banditry
Villagers between Selat and Sideman Participating in Collection Illegal Retributions from Passing Trucks
(11/23/2014)
Where to Lunch in Ubud
Too Good Not to Share: Warung Teges, Peliatan, Ubud for Outstanding Nasi Bali
(11/23/2014)
Refusing Treatment Proves Fatal for Arab Tourist
Saudi Arabian Tourist Fall Ill and Dies in Bali
(11/23/2014)
Asia’s Best Street Food in a Single Locale
Too Good Not to Share: Bali Update Editor Discovers that Sarong’s Love Affair with Indonesian Cuisine Continues to Blossom and Bloom
(11/23/2014)
Saved from the Satay Grill
Bali Water Police Rescue 51 Endangered Green Turtles
(11/23/2014)
Man of the People
President Joko Widodo Flies Economy to Attend Son’s Graduation in Singapore
(11/23/2014)
A Dozen Years for Homicide
19 Year-Old Male Prostitute who Killed American Paul Latourell Sentenced to 12 Years Prison
(11/23/2014)
Fire in Ubud
Massive Fire Destroys Clear Café and Five Nearby Homes in Ubud, Bali
(11/23/2014)
All [News]!