JAKARTA - PT Angkasa Pura (Persero) II is facing difficulties in repaying its debt, due to operational restrictions caused by the COVID-19 pandemic.
Ali Pradana, AVP Communication and Investor Relations of PT Angkasa Pura (Persero) II conveyed that his party has made adjustments to its operational policy at 19 airports in Indonesia during the COVID-19 outbreak. "For AP II employees, their shifts and working hours are adjusted," he said in a disclosure of information published on Monday (22/6)
AP II estimates that operational restrictions will last for three months since the implementation of social and physical distancing. In addition, the company's revenue and profit are estimated to decline by 25% and 75% respectively in the first quarter of 2020.
AP II, said Ali Pradana, has tried to reduce expenses, especially within the board of directors, and also initiated working capital credit policies to support the company's operations. "The company carries out business survival strategy initiatives including, workforce protection programs, optimizing cash flow, and securing profits and losses," he said. (LK/AR)