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 · 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: Government Suspend Merpati's Tax Debt
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
A Voice from Ukraine. A Voice from Beyond
I Wayan Sujana: Born Bali - 1989 Died Ukraine -2014
(7/21/2014)
Calling all F&B Professionals
Join a Feast Breaking Gathering of Bali Culinary Professionals on Saturday, July 26, 2014 at Pica Tapas Bar
(7/21/2014)
Bali, Mystical and Darkly Magic
Séance Held to Communicate with one of the Balinese Victims of the Shoot Down of MH17
(7/21/2014)
The Hills are Alive with the Sound of Jazz
Ubud Jazz Festival August 8-9, 2014
(7/20/2014)
Tree of Death
Young Australian Designer Commits Suicide in Dalung, Bali
(7/20/2014)
Interrupted Journey to Paradise
Six Bali Residents Die in Crash of MH 17 Shot Down Over Ukraine
(7/20/2014)
Colorfast Rainbow
Sanur Beach Now Home to Rainbow Coin Laundry - Our Favorite Laundromat.
(7/20/2014)
Show Them the Door
DPR Tells BUMN Minister Dahlan Iskan to Replace all Merpati Directors
(7/20/2014)
Self-energizing
Bali Needs to Become More Energy Independent
(7/21/2014)
Seeking a Lion’s Share of Jetstar
Lion Air Reported to be Seeking to a 49% Share of Jetstar from Qantas Airways
(7/19/2014)
A Disgusting Shell Game
Police Arrest Man Attempting to Sell Turtles to Bali Restaurants
(7/19/2014)
A Decade of Thanks
Balinese Thanksgiving of ‘Nyelung’ Celebrated Once every Decade by Gianyar Farmers
(7/19/2014)
All [News]!
 
Tourism and Transport Tourism Agents