İDO Strengthened Its Capital Structure By Converting Its Debts To TL

ido has strengthened its capital structure by converting its debts to TL
ido has strengthened its capital structure by converting its debts to TL

IDO, which was privatized in 2011 and serves 11 million vehicles and 35 million passengers annually in the Marmara Region (Istanbul, Gebze, Bursa, Yalova and Bandırma) with 1417 employees, connects the loans provided by Turkish and foreign banks to the new payment plans and conditions and provides a suitable cash flow. has a credit structure.

Akfen Holding A.Ş. and Tepe İnşaat Sanayi A.Ş. IDO, which operates in partnership with the sector and is the sector leader in maritime transportation, realized this new financing structure change with the vision of sustainability. With 7 ferries, 24 sea buses, 22 ferryboats and 34 piers in its fleet, İDO operates on a total of 3 main lines, 15 in Istanbul and 18 outside Istanbul.

Murat Orhan, General Manager of İDO, made the following statement regarding the financial structuring: “The reduction of the vehicle toll price of the Osmangazi Bridge by means of a revision, and the fact that the rival company, which started to operate on the Eskihisar-Topçular line by obtaining a transportation license without paying any price, created unfair competition in our revenues. Our company, which went into payment difficulties due to the negative impact, gained a stronger structure with the conversion of the debt to TL.”

Having a healthy balance sheet by converting its debt to TL to a significant extent, İDO continues to work as it always does to ensure that the service is carried out on its existing lines as a result of this restructuring.

Armin

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