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 cargo operations and the rupee also fell from 200 to 360 to the US dollar.

Passenger revenues increased to 77.9 billion rupees from 16.3 billion and cargo revenues went up to 43.9 billion rupees from 27.3 billion rupees.

Air terminal operations in Colombo brought the airline 9.038 billion rupees, up from 4.7 billion rupees a year earlier.

SriLankan posted an operating profit of 1.69 billion rupees before finances costs and exchange losses.

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