"I think the restructuring process will continue," he said at the parliament building here on Wednesday.
He said however that it would also be connected with the results of the investigation by the National Committee for Transportation Safety (KNKT) into the crash of the company`s MA-60 in Kaimana, West Papua, on May 7.
"The results of KNKT`s investigation will also be taken for consideration to ensure the safety and security of Merpati passengers," he said.
Merpati`s business restructuring is handled by PT Perusahaan Pengelola Aset (asset management company-PPA). It is still ongoing and is expected to be completed as targeted.
In 2011, the state enterprises ministry and PPA agreed to inject Rp510 billion in capital participation into the company.
In line with the company`s business plan the funds would be used to meet the needs of working capital for the year 2011 including revitalizing its aircraft and procurement of new planes.
The company has allocated Rp291.009 billion for the cost of aircraft maintenance. It will also add six units to its fleet consisting of three units of B-735, two units of B-734, one unit of B-733 and 15 units of MA-60 which had already been delivered since the end of 2010.
It also plans to improve its information technology including reservation system, accounting system, financial system totally to cost up to around Rp20 million.
Based on records Merpati in 2009 also received an injection of Rp300 billion. Rp233 billion of the funds were used for employee rationalization, Rp10 billion for moving the company`s central office to Makassar, South Sulawesi, Rp12 billion for revitalizing its turbo-prop fleet, Rp50 billion for working capital and Rp5 billion for contigency plan.
The deputy for restructuring and privatization, Pandu Achiran Djajanto, meanwhile said the problems faced by the Merpati include financial, technical operational and commercial problems.
He said there were three financial aspects involved namely cash flow deficit, unhealthy financial balance and old policies that had caused operational disruptions.
He said Merpati was also facing difficulties increasing its market share because of a shortage of fleet while its existing fleet has also been old.(*)
(H-YH/HAJM/A014)
Editor: Ruslan Burhani
Copyright © ANTARA 2011
