Merpati’s heavy debt prevents it from flying
State-owned airline Merpati Nusantara Airlines does not have the funds to resume operating this year, as the company has failed to restructure its US$745m in debt, an official has said. The State-Owned Enterprises Ministry's deputy for restructuring and development, Aloysius Ro, said in Jakarta on Monday that the government was trying to find investors. “In fact, [Merpati] still cannot fly. We are trying to find investors because the government won’t provide additional capital injection,” Aloysius said. He said Merpati was in a difficult spot given the value of its assets, which are far lower than the value of its debt. The airline ceased operations in 2014.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-07-17/unaligned/merpati2019s-heavy-debt-prevents-it-from-flying
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Merpati’s heavy debt prevents it from flying
State-owned airline Merpati Nusantara Airlines does not have the funds to resume operating this year, as the company has failed to restructure its US$745m in debt, an official has said. The State-Owned Enterprises Ministry's deputy for restructuring and development, Aloysius Ro, said in Jakarta on Monday that the government was trying to find investors. “In fact, [Merpati] still cannot fly. We are trying to find investors because the government won’t provide additional capital injection,” Aloysius said. He said Merpati was in a difficult spot given the value of its assets, which are far lower than the value of its debt. The airline ceased operations in 2014.<br/>
