"The debts have been a burden for Merpati. The debts must be settled next year in stages," he said here on Wednesday.
He said the rest Rp2.5 trillion debts to be due in 2015 would be repaid in 2016, adding the debt repayment would be done through a debt-to-equity swap scheme.
"The debts must be settled next year so that the company`s operations would be better," he said.
He said the debts were made before he was named president director. In the first six months in office he said he had concentrated on improving operations and marketing divisions and now he is concentrating on putting the company`s finance in order.
"If all goes well by 2014 the company plans to conduct an initial public offering of its stocks," he said.
It has been reported that the state-owned airline company would acquire 60 new planes under an operations cooperation scheme for a five year period with China Aircraft Leasing Company (CALC).
The effort is part of Merpati`s "reborn" program aimed at reviving the company. "Right now the company has a fleet of 30 planes. Next year it will receive 20 jet planes," Rudy said.
(H-YH/f001)
Editor: Suryanto
Copyright © ANTARA 2012
