SriLankan Airlines debt of US$510mn to be taken over by govt

Sri Lanka’s central government will take over about 510 million US dollars in debt from the balance sheet of state-run SriLankan Airlines, Aviation Minister Nimal Siripala de Silva said.

The proposal was approved by the cabinet, he told reporters at a press conference broadcast over Sri Lanka’s Derana Television.

SriLankan has a sovereign guaranteed bond and other debt including to Ceylon Petroleum Corporation and state banks.

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