The Jakarta Post, Jakarta | Thu, 12/25/2008 5:40 PM
The now-defunct PT Adam Sky Connection never discharged its debts of Rp 98 billion (US$8.9 million) to 219 travel agencies which had put down deposits on Adam Air tickets that were never delivered, a national travel assocation says.
Chair of the Indonesian Travel Agencies Association (Asita) Ben Sukma said Thursday his association was now at the stage of calculating Adam Air's remaining assets following the company's inability to pay its debts.
"Right now we're expecting to get back about 20 to 30 percent of the deposits since Adam Air doesn't have enough assets to return the money in full," he told kompas.com Thursday.
The director of Efata Travel Agency, Heriawan G. Manik, said the association should have made an agreement with the airline about deposits to give the agencies legal protection in the event of bankruptcy. (ewd)
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