Government to sell 49 % stake in SriLankan

29 Aug, 2022

The Government is to sell a 49 % stake in SriLankan Airlines Catering, Shipping and Aviation Minister Nimal Siripala de Silva said today.

The Minister said that a 51 % majority stake in SriLankan Airlines Catering will be retained by the Government.

The Government will also sell a 49 % stake in SriLankan Airlines Ground Handling.

Nimal Siripala de Silva also said that the total debt of Srilankan Airlines was USD 1.126 Billion.

The airlines has been suffering major losses over the years and has been a burden on the treasury.

SriLankan Airlines had suffered further losses last year as a result of the coronavirus pandemic.

Globally the airline industry had experienced a decrease in capacity of approximately 60% to 80% last year due to the Covid-19 pandemic with containment measures in place.

In July last year SriLankan Airlines said it experienced a revenue reduction of 70% during the financial year 2020/21 when compared to the year before. (Colombo Gazette)

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