De Silva said that considering the giant losses suffered by the state-owned carrier and the country's deep financial crisis, it was no longer prudent for the government to inject funds into the airline. SriLankan Airlines posted a LKR171 billion Sri Lankan rupees (USD476 million) loss in the...
Newly appointed Prime Minister Ranil Wickremesinghe has pledged to privatise loss-making SriLankan Airlines (UL, Colombo International) to offload the costs of restructuring the carrier to private investors rather than the state's coffers. Wickremesinghe pointed out in a televised nationwide ...
SriLankan said it is one of the first airlines in the region to start using the IATA app. “Passengers can utilize the user-friendly app with data security for a hassle-free travel experience in their journey and airport experience,” SriLankan Airlines Chairman Ashok Pathirage said. Passenger...
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SriLankan Airlines (UL, Colombo International) has been directed to pay USD30 million to the Ceylon Petroleum Corporation (CPC) on the 20th of each month to avoid delays in procuring jet fuel for its operations. Sunday Morning Business reports a senior CPC official, who asked not to be ...
SriLankan Airlines (UL, Colombo International) has grounded three aircraft because they do not have the available funds to pay for engine repairs according to Aviation Minister Nimal Siripala de Silva. He told Sri Lanka's parliament on February 10, 2023, that the aircraft have been grounded ...
The Sri Lankan parliament's Committee on Public Enterprises (COPE) has recommended SriLankan Airlines (UL, Colombo International) pause its planned fleet roll-over drive pending more political and financial scrutiny. Committee Chairman MP Charitha Herath advised the state-owned airline that in light...
Notably, this week's cabinet note indicates any privatisation may include a management change at SriLankan Airlines. Nuttall says that the airline is now operationally profitable and aims to breakeven this financial year however its losses in the financial year ending March 31, 2021, were LKR170 ...
As reported by Sri Lanka's Daily Mirror outlet, the minister said the restructuring and sale of SriLankan Airlines was underway. Lazard, a multi-national financial advisory entity, has being retained to help prepare EOI documents regarding the sale of the airline and its subsidiaries. Other inter...