Mandala Airlines' creditors agreed to accept a share conversion scheme offer, which will bring it closer to recommencing operations (kompas.com, 24-Feb-2011). The proposal to convert debts to equity was accepted by 304 creditors, with 37 rejecting the offer and three parties abstaining. The majority decision to accept the offer will be presented to the South Jakarta Commercial Court which will decide on the matter on 02-Mar-2011. President director, Diono Nurjadin stated: "We want (to resume the flight operations) very soon."
25-Feb-2011 10:53 AM