"We want (to resume the flight operations) very soon," said Mandala president director Diono Nurjadin to media on Thursday after a closed meeting on the restructuring of its debt with candidate creditors and strategic partners in Jakarta.
Nurjadin said he was optimistic the airline could resume business after the candidate creditors and strategic partners had agreed to the terms outlined by Mandala on the solution of its financial obligations.
A vote was conducted among the candidate creditors and strategic partners to seek a final agreement on the terms to be applied , said Nurjadin, and the result was that the majority agreed on the share conversion option.
"We`ve therefore gained the support of the majority of the creditors to carry on the arbitration with share conversion option," he said, adding that the company will seek endorsement from the panel of judges at the Commercial Court at Central Jakarta on March 2.
Mandala stopped flying all of their fleet on January 13, 2011 while the company was reportedly to have asked the commercial court to delay debt recovery action against the airline.
The application for postponement of debt payments was made to the Commercial Court was done for 800 billion rupiahs to Mandala`s 271 creditors. On January 17, 2011 the court agreed to postpone the debt for 45 days.
Mandala had previously operated scheduled services to three international and 17 domestic destinations and used a fleet of modern narrow body airbuses. Its main operational base was Soekarno-Hatta International Airport in Jakarta.
Mandala is the only Indonesian private airline which has the right to fly to Europe and holds IATA`s Operational Safety Audit (IOSA). The airline has positioned itself as a provider of save and reliable service combined with a competitive pricing scheme.
(Uu.KR-VFT/HAJM/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2011
