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
Baliís Loses Much-Loved Tourism Pioneer
Ida Pedanda Gde Ngurah Karang Ė Founder of Segara Village Hotel Dies at 87
(12/22/2014)
Fun & Sun Costs More in South Bali
Price of Waters Sports at Tanjung Benoa, Bali Increase by 30%
(12/20/2014)
Fire in East Denpasar
Fire Destroys 7 Shop Houses in East Denpasar, Bali
(12/20/2014)
Mantra for Difficult Times
Australian Mantra Hotel Group Scales Down its Plans in Tough Bali Marketplace
(12/20/2014)
Be Prepared
Bali Identifies Areas at Risk of Natural Disaster and Maps Plans to Minimize Destruction
(12/20/2014)
When Sleighs Wonít Do
Bali Airport to Operate 134 Extra Flights Over Christmas and New Year Period
(12/20/2014)
When a Bay Becomes a Quagmire
Editorial: We Support Jakarta Globe Call for President Joko Widodo to Cancel the Benoa Bay Reclamation
(12/20/2014)
4.25 Million Foreign Tourists to Bali in 2015?
Bali Seeks to Add 500,000 Tourist Visitors in 2015
(12/20/2014)
That Takes the Lot!
Baliís Tanah Lot Temple Experiencing a Record Number of Visitors Leader Up to Year End Piodalan Ceremony
(12/20/2014)
Shanghaied No More
Singaraja, Bali Immigration Office Deports 282 Foreign Workers in 2014
(12/20/2014)
Different Strokes Apply in Bali
Pendawa Beach Visitors in Bali Reminded that Sexual Activity and Swimming While Menstruating are Strictly Not Allowed
(12/20/2014)
Bali Non-Stop to Cairn, Australia
JetStar to Fly Direct Three Time a Week Cairns to Bali Flights Starting in March 2015
(12/20/2014)
All [News]!