Latest news about PT Angkasa Pura II (Persero)
JAKARTA - During the Covid-19 pandemic, the movement of people using airplane transportation was significantly reduced and had a major impact on the aviation industry. However, air connectivity still needs to be maintained to speed up Covid-19 handling.
In line with that, PT Angkasa Pura II (Persero) also continues to operate its 19 airports to serve flights. PT Angkasa Pura II President Director Muhammad Awaluddin said that in order to survive in this situation, the company reduced operating costs, cut capital expenditure (capex) and tightened cash flow management.
The three programs, he explained, are part of efforts to maintain business continuity that has been running since March 2020 or when a pandemic is established, so that Indonesia's air connectivity is maintained.
"The focus in business survival is to calculate spending strictly through the Cost Leadership program; then cut capex; and tighten cash flow management," Muhammad Awaluddin said in his official statement on Sunday (6/14/2020).
He continued, in early 2020 PT Angkasa Pura II set a capex of Rp7.8 trillion, but along with the pandemic, capex was cut to Rp1.4 trillion, and then tightened again to Rp1.1 trillion. "This year's Capex is specifically used for multi-year projects, maintenance of facilities to ensure security, safety, service, and formulation of the design of Terminal 4 of Soekarno-Hatta International Airport," he said.
He said Angkasa Pura II this year would not expand and also tighten belts by making savings from the operational side at 19 airports. One of them, savings reduce the cost of facilities and non-priority services to pay attention to conditions that exist where aircraft passenger traffic is also reduced.
Meanwhile, the savings made at Soekarno-Hatta is to temporarily close Terminal 1 and Terminal 2F, where this is also an effort to regulate operational patterns to support PSBB. In line with the PSBB, the Skytrain operation which is a mode of inter-terminal electric train transportation has been temporarily stopped.
"Through cost leadership, savings from the operational side at 19 airports are quite large, savings can be made up to 70% of the estimated cost that we estimated at the beginning of the year. As a group including subsidiaries, savings can be made up to 60%. Nominal savings are quite large," he added
He added, the company prioritizes the principle of prudence in managing cash flow. In the midst of this pandemic, cash inflows have indeed been under pressure due to decreased passenger traffic, but they are still supported by maintaining the cargo transportation business. In addition, a number of banks including those in Himbara have also provided loan facilities to Angkasa Pura II.
The cash out flow (cash out flow) seeks to be managed properly, some of which is done through cost leadership. "We are trying to balance cash inflows and cash outflows in the midst of this pandemic. Until now, Angkasa Pura II has been able to maintain this, so that later it will be able to expand again when the pandemic is under control," he said.