Merpati Airlines Owes Severance Pay; What's the State of its Finances?

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Viva Budy Kusnandar 13/04/2022 19:20 WIB

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Hundreds of former pilots and employees of PT Merpati Nusantara Airlines stormed PT Perusahaan Pengelola Aset, demanding the disbursement of severance pay that remains unpaid.

Merpati Nusantara Airlines Financial Performance (Q3 2020)

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Merpati Airlines Owes Severance Pay; What's the State of its Finances?

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Merpati Nusantara Airlines Financial Performance (Q3 2020)

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State-owned airline PT Merpati Nusantara Airlines, which ceased operations in 2014, reportedly still owes severance pay totaling Rp312 billion to 1,233 former pilots and employees.

On Tuesday (April 12, 2022), hundreds of former Merpati Airlines pilots and employees went to PT Perusahaan Pengelola Aset (PPA) in Menara Mandiri II, South Jakarta, to demand the disbursement of their severance pay.

"From a legal standpoint, the issue of severance pay for former Merpati pilots and employees is currently undergoing a PKPU (Suspension of Debt Payment Obligations) homologation process in the Surabaya Commercial Court," said Bertua Hutapea, legal counsel for the former Merpati Airlines pilots and employees, as reported by Liputan6.com on Tuesday (April 12, 2022).

According to the financial report for the third quarter of 2020, Merpati Airlines' assets totaled Rp474 billion as of September 2020, comprising Rp90 billion in current assets and Rp384 billion in non-current assets.

Its liabilities reached Rp7.24 trillion, with Rp4.12 trillion in short-term liabilities and Rp3.12 trillion in long-term liabilities.

The large amount of liabilities resulted in a negative equity of Rp6.77 trillion for Merpati Airlines. Its net loss reached Rp8.78 trillion.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Merpati Airlines Owes Severance Pay; What's the State of its Finances?

Merpati Airlines Owes Severance Pay; What's the State of its Finances?

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Merpati Airlines Owes Severance Pay; What's the State of its Finances?

Merpati Airlines Owes Severance Pay; What's the State of its Finances?

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