Coal price

The decision of the Surabaya Commercial Court to grant the peace proposal of the Suspension of Debt Payment Obligations (PKPU) of PT Merpati Nusantara Airlines (Persero) was gladly welcomed. The  270-day struggle has finally paid off. This was stated by Merpati’s Legal Counsel Rizky Dwinanto after the trial held at the Surabaya District Court, Jalan Arjuno, Wednesday (11/14/2018).

“This is a 270-day struggle, not an easy struggle, it’s a tiring 270-day struggle, we have been working hard, and we are grateful as the consideration of the panel of judges fulfills what we expect,”

Rizky said. Rizky explained that the granting of the peace proposal made him feel relieved as Merpati could operate again after four years of inactivity.

“The challenge after this is how we will carry out the next stages, we will fully fulfill the promises in the peace proposal,” said Rizky.

However, reviving Merpati is not an easy task because there is a debt repayment obligation to creditors as well as the obligation to fulfill the rights of former Merpati employees.

“We will formulate strategies to complete those obligations as soon as possible,” Rizky said.

Rizky also said that his party would make repayments after Merpati resumed operations, as stated in the peace proposal that had been approved by most creditors.

“At present, our client has debts amounting to IDR. 10.7 trillion. We have also offered the concept of repayment in accordance with the peace proposal,” Rizky said.

Regarding partners who join in as investors supporting IDR 6.4 trillion funds for Merpati, Rizky has said that the funds are not for the debt repayment. The funds are for future Merpati operational costs. “The funds will be used to finance the company including managing licenses, aircraft, hangars and the cleaning up. Only after operating will the proceeds be paid to the creditors,” he said.

Source: Finance detik