"The disbursement of the PMN funds will be used as bridging funds during the company`s overall improvement process and will inject a new spirit into the management for a full renewal of Merpati," MNA`s President Director Sardjono Jhony Tjitrokusumo said here on Wednesday.
He added that the government`s capital participation funds would enable the management to optimistically improve its performance, revitalizing and increasing the size of its fleet and overseeing improvements in management.
Sardjono said MNA`s management had put in place a defense strategy to assure the firm survived while waiting for the disbursement of the PMN funds.
He said, however, that the funds were late in being disbursed, as the company waited for almost nine months for the funding.
"Not many actions were being taken to improve the firm`s performance before the disbursement of the funds on December 30, 2011. But Merpati proved it was able to survive in running its business operations, while optimizing its revenues and reducing its operational costs as well as possible," he said.
Besides that, Merpati was also able to negotiate with lessors and its vendors until the PMN funds worth Rp561 billion were disbursed by the government.
He said that the delay in the disbursement of the funds for about nine months resulted in the company borrowing Rp250 billion.
In the meantime, State Enterprises Minister Dahlan Iskan encouraged the management of Merpati to revitalize the business and prepare for a renewal. This led to the management becoming compact and united.
"Mr Dahlan, himself, was touched to see the solidarity in the management and employees, because he was fully aware of Merpati`s business problems and downturn," he said. (*)
Editor: Heru Purwanto
Copyright © ANTARA 2012
