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 · Government Suspend Merpati's Tax Debt
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

Government Suspend Merpati's Tax Debt

Tax Payment Suspension Part of Overall Restructuring Program to Rescue Troubled State-Owned Domestic Carrier.


Bali News:
Click Image to Enlarge

(8/18/2008)

As reported on balidiscovery.com, the government is taking dramatic moves to save PT Merpati Nusantara Airlines (MZ) from imminent financial collapse. In addition to cash relief of US$32.6 million and plans to lay off 50% of the carrier's work force, the government has now agreed to delay the payment of Rp. 56 billion (US$6.1 million) in outstanding taxes due from MZ as part of the overall restructuring programming.

The State Minister for State-owned enterprises, Sofyan Abdul Djalil, told Bisnis Indonesia that the temporary tax reprieve has been agreed with the Minister of Finance.

According to Sofyan, the restructuring of MZ will be handled by PT Perusahaan Pengelola Asset (PPA), a government-owned asset management company. The taxes owed by MZ have been placed in abeyance to allow the airline the opportunity to complete the termination of 1,300 workers, a central core of the airline's restructuring. When the terminations are completed, MZ will be left with 800 employees; 500 dedicated to airline operations and 300 at the Merpati Maintenance facility.

A Shift from Jets to Turbo-props

MZ plans to stop operating jets and focus its future operations on less-expensive-to-operate tubro-prop equipment flying on pioneer routes.

How Much Debt?

MZ's recently appointed managers are busily trying to asses the true extent of the airline's indebtedness. Meanwhile, some observers place MZ's debt at Rp. 2.2 trillion (US$239 million) against an asset base of only Rp. 1 billion (US$108,000). In its current un-restructured state it is estimated that MZ is losing Rp. 20 billion (US$2.2 million) each month.

Related Article

[Merpati Nusantara Airlines: Struggling to Survive]


© 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
Bali Benoa Reclamation Project Still in Play
Location Permit Extended Automatically for Benoa Bay Reclamation Pending Review of Environmental Impact Study
(7/22/2016)
Mövenpick Set to Premiere in Bali
Mövenpick Resort & Spa Jimbaran Bali Names Horst Walther-Jones as General Manager
(7/22/2016)
Dancing on Paper
Lines of Pleasure – an Exhibition of Drawings by Noella Roos at VIN+ Seminyak August 26 – September 31, 2016
(7/22/2016)
Peddling Junk to Bali’s Top Man
Pastika Complains that Drug Dealers Have Tried to Sell Him Narcotics While Walking in Kuta, Bali
(7/22/2016)
When Boarding Houses Hoard Tax Revenues
Badung Regency in Bali to Make Boarding Houses Pay Their Fare Share of Taxes
(7/22/2016)
Faulting Towers
Buleleng Legislative Committee Opposed to ‘Bali Crossing’ High Voltage Transit Between Bali and Java
(7/22/2016)
Misguided Chinese
Illegal and Unlicensed Chinese Guides Protested by the Association of Indonesian Travel Agents
(7/22/2016)
Pop Goes the Weasel
Police Increase Security on Bali Following Killing of Two Indonesian Terrorists in Central Sulawesi
(7/22/2016)
Disembarking Drunks in Paradise
Jetstar Flight from Sydney to Phuket Diverts to Bali to Off-Load 6 Men Involved in a Drunken Brawl
(7/22/2016)
Taking the Crime Fight to New Heights
AirAsia Lands Airplane in Bali with ‘Turn Back Crime’ Livery
(7/17/2016)
The Protest Demonstration of the Week
Demonstrators Take to the Streets of Sanur for What is Becoming Weekly Protests Against Plans to Reclaim Bali’s Benoa Bay
(7/17/2016)
Tucker from a Trucker
Food Truck Festival in Denpasar, Bali July 29-31, 2016
(7/17/2016)
All [News]!