There Will Be No Layoffs After The Angkasa Pura Merger

Illustration (Photo: Doc Antara)

JAKARTA - The merger of PT Angkasa Pura I (AP I) and PT Angkasa Pura II (AP II) is entering a new chapter.

The two companies will join as one company after PT AP II changed its name to Angkasa Pura Indonesia or API.

Quoted from the disclosure of information on the Indonesia Stock Exchange (IDX), Wednesday, July 24, the merger of the two companies is planned to be effective starting September 1, 2024.

Mesih refers to the same source, it is certain that the merger will not cause termination of employment (PHK). This is because AP I employees will switch to AP II employees who have changed to API.

"There is no termination of employment in the context of merging," reads the document uploaded in IDX information disclosure.

Angkasa Pura Merger Scheme

In the Additional Documents of Information and/or Amendments to the Summary of the Draft Merger of PT Angkasa Pura I, PT Angkasa Pura II and PT Angkasa Pura Indonesia, the merger begins with changing its name to API. After that, PT AP I will join the PT API entity.

"There will be a merger of PT Angkasa Pura I into PT Angkasa Pura Indonesia, previously known as PT Angkasa Pura II, where PT Angkasa Pura Indonesia will act as the company receiving the merger," the document read.

Currently, PT API itself has established as a company that oversees AP I and AP II. After that, API will change its name, where one of the names that has been revealed is PT Angkasa Pura Nusantara (APN).

With this merger, PT Aviasi Wisata Indonesia (Persero) or InJourney will pocket the majority of PT API (ex AP II), which is 52.08 percent.

Meanwhile, the second largest shareholder is PT Angkasa Pura Nusantara or APN (ex API). Meanwhile, the Republic of Indonesia pocketed 0.000006 percent.

The merger of Angkasa Pura I to Angkasa Pura Indonesia (ex AP II) is effective as of September 1, 2024, in line with the determination of the financial position for the opening of Angkasa Pura Indonesia.

The reports on the financial position of closure of both Angkasa Pura I and Angkasa Pura Indonesia (ex AP II) are as of August 31, 2024.

Later, the airport certificate previously owned by Angkasa Pura I will change to Angkasa Pura Indonesia (ex AP II). The adjustment process will be carried out from September 1, 2024 to March 1, 2025.

"With the merger, the legal entity status of PT Angkasa Pura I will end due to law and therefore, business activities currently being carried out by PT Angkasa Pura I, including businesses in the field of airport services and services related to airports, will be continued by PT Angkasa Pura Indonesia," the document reads.