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
Tensions Rising in Benoa Bay Protests
30,000 March on Bali House of Representatives. Kuta Traffic Halted by Road Closure and Tire Burning
(8/25/2016)
Time to Stand Together
Generosity.com Fund Established for Family of Police Sub-Inspector Wayan Sudarsa Killed on Kuta Beach on Wednesday, August 17, 2017
(8/21/2016)
A Day Dedicated to the Endangered
Bali Safari and Marine Park Salutes International Orangutan Day and International Elephant Day
(8/22/2016)
Bangkok Near the Bali Bypass
Too Good Not to Share: DD Warung in Sanur Home of Authentic Thai Cuisine
(8/21/2016)
Setting Things Right Again with the Cosmos
Legian Village Community Perform Ritual Cleansing of Murder Scene Where Bali Policeman Died
(8/21/2016)
Suspected of Murder
David Taylor and Sarah Connor Now Formally Named as Suspects in Murder of a Bali Policeman
(8/21/2016)
Costly Coffin Nail
Indonesia Considers Increasing Price of Cigarettes to Rp. 50,000 a Pack
(8/21/2016)
A Case of Mistaken Identity
Police Admit they Initially Placed the Picture and Name of the Wrong Foreigner in Search for Those Involved in the Death of Balinese Cop
(8/21/2016)
Objecting at Go-Jek
Go-Jek Drivers Protest Changes in Transportation Fees and Bonus Schemes
(8/21/2016)
Caught with Cats
East Javanese Man Caught at Gilimanuk, Bali Trying to Smuggle Jungle Cats and Civet Cats into Bali
(8/21/2016)
No Decoration for this Driver
Horrendous Truck Crash on Jalan Bypass in Sanur Leaves Two Dead and a Score Injured
(8/21/2016)
Does Anybody Know My Name?
Australian Fugitive Mounts his Own Defense in Denpasar, Bali Court on Multiple Immigration Violations
(8/21/2016)
All [News]!