Airline's Debt To Angkasa Pura I Reached Rp370 Billion

Illustration. (Photo: Wikimedia Commons)

JAKARTA - PT Angkasa Pura I (Persero) or AP I Tengah is carrying out financial and operational restructuring efforts. This step was taken because the company has a debt burden of Rp32.7 trillion. However, AP I Finance Director Andy Bratamihardja said that AP I has a number of receivables, one of which is from airlines.

"As of November 30, we are at Rp900 billion in total (receivables). Of which 41 percent are airlines, or around Rp370 billion," he said in a virtual press conference, Wednesday, December 8.

Furthermore, Andy said the remaining 59 percent were receivables from AP I partners. One of them was tenants who rented space at the airport managed by AP I.

"The rest are mostly from our partners, tenants, and others who occupy our place, pay rent, and others. It also accounts for a bigger portion of receivables than airlines," he said.

Andy confirmed that currently, his party has agreements with a number of airlines that have debts with Angkasa Pura I.

"Alhamdulillah, with our airline friends, today we have an agreement for the settlement," he said.

The agreement, said Andy, gives airlines time to pay off debt payments before the end of 2022. In particular, debts incurred during the COVID-19 pandemic.

"We have signed agreements with the big ones (airlines) and God willing, all of them can be realized as well as the completion plan. So we don't expect the completion of 2022 to pass," he said.

Previously reported, PT Angkasa Pura I (Persero) or AP I opened up about the condition of the company's large debt coupled with the impact of the COVID-19 pandemic. Until November 2021, the company's recorded debt actually only reached Rp28 trillion, lower than previously reported at Rp35 trillion. However, this condition has the potential to worsen.

President Director of Angkasa Pura I Faik Fahmi said the company's total debt was Rp28 trillion. However, apart from that, AP I also has obligations that must be paid to employees and suppliers whose value reaches Rp4.7 trillion.

"Indeed, we have other obligations, such as obligations to employees, obligations to suppliers, Rp4.7 trillion. So our total liabilities are around Rp32.7 trillion, but our obligations to creditors and investors are around Rp28 trillion as of November 2021," said Faik.