SriLankan Airlines seeks strategic investor

The Sri Lankan govt has called for expressions of interest in the privatisation of SriLankan Airlines and its low-cost subsidiary, Mihin Lanka. An advert, titled “invitation for expression of interest for the reorientation of SriLankan Airlines and Mihin Lanka,” has been placed in print publications by National Savings Bank subsidiary NSB Fund Management, which is managing the process. It specified that the purpose of the process is to find a strategic investor for the “reorientation” of the two airlines. The exact stake that will be up for sale is unclear, although it has been suggested it could be around 40%. Earlier this year, the govt said it was considering an equity buy-in from another airline and possible aircraft order cancellations to stem ongoing losses at the carrier. <br/>