JAKARTA. PT AirAsia Indonesia Tbk (CMPP) recorded negative equity of Rp 1.33 trillion at the end of the first half (1H) of 2020, its worse position in more than 10 years.
CMPP's management explained that there was a 241% increase in liabilities in 1H 2020 to Rp 8.22 trillion. Meanwhile, at the end of 2019, the airline's liabilities were recorded at Rp 2.4 trillion.
"The increase in total liabilities was due to an increase in the financial lease obligation due to the implementation of PSAK 73," said Indah Permatasari Saugi, Head of Corporate Secretary of CMPP, through an official statement.
In terms of assets, CMPP did mention that there was a growth of 164% in 1H 2020, to Rp 6.89 trillion, also due to the implementation of PSAK 73.
According to the data gathered by idnfinancials.com, this is not the first time CMPP's equity has been in a negative position. In 2018, the company also recorded negative equity of Rp 807.07 billion. (KR/AR)