MERPATI NUSANTARA AIRLINE AIRCRAFT SEIZES FOR NON PAYMENT OF RENTALS

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By TESTCustomwebLP TESTCustomwebLP May 10, 2011 12:26

MERPATI NUSANTARA AIRLINE AIRCRAFT SEIZES FOR NON PAYMENT OF RENTALS

Seven of Merpati Nusantara Airline’s 737-300s may be withdrawn by the owners who leased the aircraft to the airline due to unpaid rentals of Rp. 50 billion (US$5.5 million). Aircastle has already repossessed one 737-300 on May 4.

Local media reports that Iwan Nurjadi, an attorney from the firm ofNurjadi, Sumono, Mulyadi & Pranoto (NSMP) representing three aircraft leasing companies, said there were unpaid debts of US$2.5 million owned to his clients, including Jetlease, since March 2011.

In order to minimize further debt exposure to the three leasing companies, Nurjadi said his office plans to seize the three aircraft on behalf of his clients by the end of May 2011.

Meanwhile, the commercial director of Merpati, Tony Aulia Achmad, told the press that the airline is not in default of its debts although it is unable to pay the outstanding amounts in full.

Commenting on allegations that they owe US$2.5 million to the aircraft leasing companies, Achmad said: “The amount is not that large. Maybe that amount includes penalties. We are not in default; we have just not paid the full amount.”

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By TESTCustomwebLP TESTCustomwebLP May 10, 2011 12:26
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