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CMNP considers buying debt-ridden Merpati
Publicly-listed toll road operator PT Citra Marga Nusaphala Persada (CMNP) is considering buying debt-ridden Merpati Nusantara Airlines (Merpati) to diversify its business
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ublicly-listed toll road operator PT Citra Marga Nusaphala Persada (CMNP) is considering buying debt-ridden Merpati Nusantara Airlines (Merpati) to diversify its business.
In addition, the firm says it wants to help restructure one of the important players in the aviation industry.
'Merpati's former president director Ridwan Fatarudin has offered to save the airline and we are interested,' CMNP president director Jusuf Hamka said.
Ridwan said he fully understood that the carrier currently had around Rp 6 trillion (US$612 million) in debts and interest with several important parties such as state owned oil and gas company Pertamina and airport operators Angkasa Pura I and Angkasa Pura II.
However, he was optimistic that the firm would be able to pay the debts as long as it was given time.
'We do not know how many years we will [need to] be able to pay it. We have to calculate it,' he continued. State-Owned Enterprises Minister Dahlan Iskan said he was surprised at CMNP's plan.
'I am very surprised. Now I am waiting for their formal request to the ministry,' Dahlan said.
Meanwhile, the airline's president director Rudy Setyopurnomo said he had yet to receive a formal letter from CMNP on its plan to acquire Merpati.
The state run carrier is currently operating 30 aircraft including Boeing B737-400, MA-60s and Twin Otter. It flies to around 40 destinations in the country.
