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Commercial court extends Merpati's debt postponement petition
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A Merpati Nusantara Airlines plane (Komas Images/Roderick Adrian Moses)
T
he Surabaya Commercial Court has extended the debt postponement petition (PKPU) for state-owned airline company PT Merpati Nusantara Airlines for 14 days as the court provides room for a better solution than bankruptcy.
“Yes, it was decided by the judges that the PKPU would be extended for 14 days ending on Oct. 18,” said Arifin Sulaiman, an official tasked by Merpati to deal with the PKPU in Jakarta on Wednesday as reported by kontan.co.id.
Arifin said the extension of the petition was proposed by Merpati because the company still needed time to deal with a number of recommendations from creditors related to the effort to seek a solution for the airline’s debt of Rp 10.95 trillion (US$720.39 million).
He expressed hope that a settlement could be reached because his team had found that the assets owned by Merpati were in poor condition, meaning the creditors would suffer more losses if it was finally decided to end the case in Merpati’s bankruptcy.
“We have seen a number planes owned by the airline in eastern Indonesia. They are in poor condition,” Arifin said.
State-owned asset management company PT Perusahaan Pengelola Aset president director Henry Sihotang said any peace solution known as homologation, should be approved by the government and the House of Representatives.
“If it is not approved by the government and the House, the company should be declared bankrupt,” he added. (bbn)
