InJourney Needs PMN IDR 1.19 Trillion, SOE Minister Reveals The Reason

Airport illustration (Photo: Doc. Antara)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir admitted that the cash flow of the Tourism and Aviation Holding, InJourney, was negative. One of them is because the revenue of airports managed by Angkasa Pura I and II as members of the holding has fallen during the COVID-19 pandemic.

"InJourney, we see that cash flow from InJourney itself is a note that was indeed in a negative position during COVID-19 at that time. At that time we could see our airport-airport income is certainly in a negative position," he said in a meeting with Commission VI of the DPR, Thursday, June 15.

"But as community service, it is impossible for this airport to be stopped during COVID-19 so that we continue to run it," he continued.

Meanwhile, Erick said that during the COVID-19 period, only two airports began to rise, namely Bali's I Gusti Ngurah Rai International Airport, and Soekarno-Hatta International Airport. While the rest have not returned to normal.

Erick said, amid the operational pressure of InJourney members' airports during the COVID-19 pandemic, InJourney also received an assignment to develop the Mandalika Special Economic Zone (KEK).

With these conditions, InJourney member airports have not been able to help finance infrastructure in Mandalika assigned to its holding.

"Well, it is impossible for this cash flow to carry other InJourney subsidiaries such as in Mandalika, namely the acceleration of infrastructure in Mandalika. That's why the funding was carried out," he said.

The procurement that Erick meant was state capital participation (PMN) worth Rp1.19 trillion with a distribution of Rp1.05 trillion to cover the Mandalika project debt. Also, the remaining Rp143 billion to support the construction process of the Sanur SEZ, Bali.

Erick said PMN's funding assistance of Rp1.19 trillion was to be one of the factors in restoring the company's financial condition. While on the other hand, waiting for recovery from airports in Indonesia.

"One of them is the Rp1.2 trillion (Rp1.19 trillion PMN) fund, which is actually not only forced than the current recovery, but there is still 70 percent of the aiprort that has not recovered," he said.

As is known, InJourney inherited a debt of IDR 4.6 trillion. The Rician, for the short term, is IDR 1.2 trillion and long-term debt of IDR 3.4 trillion which creates a negarative cash flow.