Merpati to Form Subsidiaries

TEMPO.CO, Jakarta - PT Merpati Nusantara Airlines makes its move into operational cooperation by establishing a subsidiary. “We’re currently taking care of the [relevant] clauses in establishing a subsidiary with the notary and the Ministry of Justice and Human Rights,” Merpati spokesman Riswanto C.P. said yesterday. “PT Perusahaan Pengelola Aset (PPA) will become the majority shareholder.”

Riswanto said Merpatin and PPA were still consulting and appointing financial advisors to determine the required amount of capital. Besides establishing a subsidiary, Merpati will also turn Merpati Maintenance Facility International and Merpati Training Center into subsidiaries. “PT PPA is also the majority shareholder,” he said.

State-owned Enterprises Minister Dahlan Iskan previously urged Merpati to immediately form a subsidiary resulting from a operational cooperation with another company, so that it can remain operational during debt restructuring. “There is no other way. The only option is operational cooperation because the state refuses to inject capital,” he said last weekend.

According to Dahlan, in establishing its joint venture, Merpati will not deposit capital. “The capital is 100 percent foreign. Merpati’s capital only consists of pilots, employees, system, and flight permits,” he said. “[Having a] private company as the majority is fine.”

The objective of operational cooperation is to separate Merpati’s activities from its subsidiaries. Dahlan said cooperation with Merpati will remain difficult as long as the company’s debt of Rp6.5 trillion has not yet been restructured. “No one wants to cooperate with Merpati, but if it is in the form of subsidiaries, 15 investors are interested,” Dahlan said.

ANANDA PUTRI