SriLankan Airlines skipped loan repayments for up to 5 years
SriLankan Airlines failed to repay installments for up to five years on loans obtained from local financial institutions that date back to 2016/17. The revelation is contained in the latest annual report from the Sri Lankan National Audit Office (NAO) which examined the 2020/21 financial year. "Sri Lankan Airlines had obtained US$200m during the year 2016/2017 and rupee loan facilities amounting to US$80.5m during the year 2017/2018 from two state banks for short-term financial requirements on the guarantee of the general treasury," the NAO report states. "None of those basic loans had been repaid as of March 31, 2021." The total amount owing and unpaid as of Match 31, 2021, was US$196m. Colombo-based media note another US dollar loan was secured during the 2020/21 fiscal year totalling US$75m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-12-30/oneworld/srilankan-airlines-skipped-loan-repayments-for-up-to-5-years
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SriLankan Airlines skipped loan repayments for up to 5 years
SriLankan Airlines failed to repay installments for up to five years on loans obtained from local financial institutions that date back to 2016/17. The revelation is contained in the latest annual report from the Sri Lankan National Audit Office (NAO) which examined the 2020/21 financial year. "Sri Lankan Airlines had obtained US$200m during the year 2016/2017 and rupee loan facilities amounting to US$80.5m during the year 2017/2018 from two state banks for short-term financial requirements on the guarantee of the general treasury," the NAO report states. "None of those basic loans had been repaid as of March 31, 2021." The total amount owing and unpaid as of Match 31, 2021, was US$196m. Colombo-based media note another US dollar loan was secured during the 2020/21 fiscal year totalling US$75m. <br/>
