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 the annual report.

“Hence, the resultant saving for the financial year 2021/22 was LKR 5,841 Mn (USD 28.4 Mn), whilst a total reduction of USD 160 Mn in lease rentals was received from aircraft lessors for the total remaining period of the respective lease agreements.”

Read more on Economy Next