Sri Lanka requests investor interest to divest SriLankan Airlines

Sri Lanka has requested interest from investors to divest SriLankan Airlines, an online notice by the island’s State Owned Enterprise Unit said. Washington-based International Finance Corporation is the transaction advisor. An airline or other financial or non-financial investors could bid subject to their strength and ability to raise funding. Read more on Economy Next

SriLankan Airlines ready to recruit foreign pilots if need arises – CEO

State-owned, loss-making SriLankan Airlines will recruit foreign pilots if the need arises, its Chief Executive Officer said, as the national carrier has suffered an exodus of pilots last year following an unprecedented economic crisis. The COVID-19 pandemic, followed by an economic crisis, hit the airline hard as it was deprived of the usual near full […]

SriLankan Airlines expects $50 mln profit in FY 2023/24 

Sri Lanka’s loss making national carrier is aiming to earn a profit of 50 million US dollars, its Chief Executive Officer said, after it incurred a loss of nearly 500 million US dollars in the previous financial year.  “I think the outlook for next year is even stronger,” Richard Nuttall, CEO at SriLankan said in […]

Sri Lankan renegotiates leases to save US$160mn

SriLankan Airlines has renegotiated aircraft leases saving 160 million US dollars through the remaining life of the contracts, the airline said. “To minimise the loss resulting from the reduced air traffic revenue compared to pre COVID-19 levels, SLA has taken steps to restructure the lease agreements through extensive negotiations with lessors,” SriLankan told shareholders in […]

SriLankan Airlines lose Rs163bn in 2022, mostly on currency collapse

Sri Lanka’s state-run SriLankan Airlines has lost 163.5 billion rupees in 2022, mostly on foreign exchange losses, its accounts shows, as the rupee ‘flexible exchange rate’ collapsed. SriLankan revenues went up to 134 billion rupees in the year to March 2022, from 50.9 billion a year earlier as passenger traffic revived and the airline also boosted its […]

Sri Lanka drops plan to sell Sri Lankan Airlines piecemeal

Sri Lanka’s cabinet of ministers had asked a newly set up state owned enterprise re-structuring unit to come up with recommendation on how to re-structure state-run Sri Lankan Airlines and its subsidiaries. Sri Lanka’s Aviation Minister Nimal Siripala de Silva had earlier suggested that Sri Lankan Catering and its ground handling units – the most […]

SriLankan Airlines to sponsor air tickets for children in need of overseas medical care

SriLankan Airlines, the island’s national carrier, has launched a CSR initiative to sponsor air tickets to children in need of overseas medical care. SriLankan Cares, the state-owned airline’s corporate social responsibility (CSR) arm, will provide tickets to patients certified by a medical doctor. A ticket will also be issued free of charge to one parent […]

Sri Lankan Airlines loses Rs248bn in four months after soft-peg collapse

Sri Lanka’s state-run SriLankan Airlines has lost 248 billion rupees up to April 2022 with most of it coming from the collapse of the currency

Sri Lanka finds way around CPC monopoly to end aviation fuel crunch: Minister

Sri Lanka is in discussions with suppliers to allow them to bring aviation fuel, stock them in state-run Ceylon Petroleum Corporation’s facilities and pay them later.

SriLankan Airlines loses Rs170bn in 2021 amid soft-peg collapse

State-run SriLankan Airlines had lost 170 billion rupees in 2021 and its accumulated losses had risen to 542 billion rupees.

Loss making SriLankan completes MRO service for Oman’s Salam Air

State-run SriLankan Airlines’ Engineering unit completed a Maintenance, Repair and Operations (MRO) project to Salam Air, the budget airline of Oman.

SriLankan Airlines explains plan to lease newer used aircraft

SriLankan Airlines has explained the need to lease replacement aircraft with leases of a number of aircraft running out in the near future.