Sri Lanka’s loss-making carrier seeks foreign partner
Sri Lanka is seeking foreign assistance to rescue its loss-making national carrier after the govt announced the airline was unable to pay back nearly US$1b in debt. The country cannot afford to bear SriLankan Airlines’ losses of $872m on top of its massive debt, international trade minister Sujeewa Senasinghe said. The airline owes at least $933m but the govt last week said the true figure could be much higher. “We want to restructure SriLankan with either direct foreign capital or through a management agreement with a foreign airline,” Senasinghe said. He added that he hopes the process will be completed within “2 to 3 months”. Official sources said Colombo was in talks with a Middle Eastern carrier to form an agreement that would see the airline hand over control of its management to a foreign carrier. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-01/oneworld/sri-lanka2019s-loss-making-carrier-seeks-foreign-partner
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Sri Lanka’s loss-making carrier seeks foreign partner
Sri Lanka is seeking foreign assistance to rescue its loss-making national carrier after the govt announced the airline was unable to pay back nearly US$1b in debt. The country cannot afford to bear SriLankan Airlines’ losses of $872m on top of its massive debt, international trade minister Sujeewa Senasinghe said. The airline owes at least $933m but the govt last week said the true figure could be much higher. “We want to restructure SriLankan with either direct foreign capital or through a management agreement with a foreign airline,” Senasinghe said. He added that he hopes the process will be completed within “2 to 3 months”. Official sources said Colombo was in talks with a Middle Eastern carrier to form an agreement that would see the airline hand over control of its management to a foreign carrier. <br/>
