- www.mandalaair.com
VIVAnews - Creditors of Mandala Airlines stated their objection against the plan proposed by the Indonesia airline about the conversion of debts into shares.
During a verifying session and reconciliation plan, the creditors inquired about whether or not another option is available. The concurrent creditors will be offered to buy Mandala Airlines shares of C-type at Rp2,500 per share.
"It's difficult for us as the subsidiary of state-owned enterprises to buy Mandala shares for it must be approved by a shareholders' general meeting and state-owned enterprises minister," a representative of Garuda Maintenance Facility (GMF), one of the said creditors, said today, Feb 18.
Other creditors like Angkasa Pura I, Angkasa Pura II and Merpati Nusantara Airlines are also against the option.
On the other hand, Mandala Airlines President Director, Diono Nurjadin, said Mandala has no other alternative over the reconciliation process.
"Share conversion has been included in the strategic investment plan. Negotiation process is still underway," he said.
As reported earlier, Mandala Airlines calls for support of creditors over the reconciliation plan that the company had proposed to Commercial Court on February 4.
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