Sri Lanka state airline part repays fuel debts

"We're negotiating with the CPC on the repayment in terms of pricing and credit terms and will arrive at a settlement by mid next month,” Nishantha Wickremasinghe, chairman SriLankan Airlines was quoted as saying by Sri Lanka's The Sunday Times newspaper.

SriLankan raised a 175 million dollar equivalent dual currency Islamic loan last month against some of its foreign exchange denominated receivables from a consortium of Dubai based banks.

A 40 million US dollar loan to state-run Bank of Ceylon was also settled with the loan proceeds, he was quoted as saying.

Sri Lanka ran into a balance of payments crisis in 2011 following a large spike in bank credit to manipulate energy prices.

Monetary authorities also printed money to keep rates down amid the credit spike instead of allowing rates to go up, which would have curbed demand and raised more deposits in the banking system to fund the expanded credit.

In February, fuel prices were raised, allowing non-oil imports to fall, and contradictory state interventions in forex and money markets were reduced.

READER COMMENT(S)

11. D. Perera Aug 02

I totally agree on the bad service. I once heard one stewardess shouting to another saying "Paan iwarai" (Translation: "out of bread!")

10. AZ Aug 01

I travel frequently from Doha to Colombo and used to travel by SriLankan but switched to Qatar airways mainly due to the poor service standards and bad attitude of the cabin crew. The cost is higher but I prefer to pay a price to avoid experiencing one of the worst travel experiences.

9. AT Jul 31

I like to fly in Sri Lankan but Sri Lankan changed the flight schedule after I bought the ticket. They messed up travel plan twice.

Now, I use Qatar. It is on time and I pay more than Sri Lankan but it is really worth. I don’t have a complain about inflight service.

In USA, they (United, American, Delta, and Continental) are worse than Sri Lankan

8. Ripster Jul 31

The fleet too old + weak talent pool + state intervention = Disaster!

7. Niro Jul 31

The Sri Lankan airlines passenger services (both ground and inflight) is a disgrace.

More pain for Sri Lankan taxpayers to keep this un-viable business afloat.

6. house maid Jul 31

I flew to Colombo on srilankan airlines and the flight stewardess treated me like I was a housemaid.

I will never fly srilankan again and I tell all my friends too my experience.

We all fly Emirates now. We are treated very well.

Excellent service and great food.

5. disgusted flyer Jul 28

I have to agree with the other flyers
of srilankan airlines disgusting and horrible cabin and ground experience.

Get rid of the trainers. I am sure there are better qualified people for these jobs.
As you can see, the effectiveness of the trainer is not evident in the service passengers supposed to receive.

4. WAW Jul 27

Folks, no need for debating among yourselves. Go to the following piece I published in the Daily FT and it tells the whole story of what has happened to Sri Lankan.

http://www.ft.lk/2011/04/04/a-tale-of-four-airports-and-three-airlines/

3. Anuradha Jul 26

@ Lasantha Can you please tell the other "reagional airlines" and mention which route u travelled.

2. Lasantha Jul 24

Sri Lankan airlines flight service and ground service is poor compared with other regional airlines.

What this means is that your current trainer is useless. Better to hire new people for this job.

1. frequent flyer Jul 24

Poor in-flight cabin service is the root cause for low passengers.

SriLankan airlines need to fire the cabin crew trainer.