SLM sees debt reduced by millions

Through a debt restructuring, Surinam Airways (SLM) has been able to reduce its debt position, which originally amounted to US$ 89 million, by several million dollars. Specifically, this is a reduction of US$ 11 million. However, the management emphasizes that the company is still in serious trouble.
Director Steven Gonesh confirmed that a meeting took place with President Chan Santokhi, the leadership of the TCT (Tourism and Culture Tourism), and the Surinamese Pilots Association (VSV) to discuss the company’s situation. Among others, the VSV is concerned about the survival of the SLM, given the outstanding debts.
In an interview with Radio ABC, Gonesh said that what has gone wrong within the company over the years cannot be fixed in just one or two years. Society may have high expectations, but he assures that everyone within the company is working tirelessly to turn things around.
One of the conditions to fully restore the company’s health is to strengthen several internal structures. Additionally, efforts are being made to further reduce the debts through repayment agreements with creditors. Gonesh mentioned that the human resources aspect is also being thoroughly reviewed. Another issue discussed was the problems surrounding the pension fund.
SLM, in collaboration with the pension fund, has developed a plan to get out of the current debt position. This plan is currently being reviewed by the Central Bank of Suriname and is awaiting approval. SLM is also actively searching for an aircraft for the mid-Atlantic route.
As long as this has not been resolved, the company’s pilots cannot work. Until this issue is resolved, the route is being outsourced to a hired company. Earlier, the President indicated that government support for the company continues.

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