The funding is the largest known Islamic financing raised by a Sri Lanka based entity.
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Fri, 24 May 2013
06:03:22
Sri Lanka state-carrier raises US$175mn from Islamic loan
19 Jun, 2012
05:58:15
June 19, 2012 (LBO) - Sri Lanka's state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said.
Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines to the equivalent of 175 million US dollars.
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READER COMMENT(S)
3.
traveller
Jun 22
SriLankan airlines does not provide good service in the air or at the airport counter.
2.
Gamarala
Jun 20
It will be interesting know why Islamic Financing and not from conventional banking sources?
1.
Harry
Jun 20
This is pathetic, after draining the local's hard earn tax money to fund the loss making air line now they are seeking funds from USD borrowings .. who's gona pay these loans ? the passengers and the public of sri lanka . can the air line be competitive with the regional airlines answer is no ..
Government should stop appointing political henchmen to these top ventures .. there are plenty of capable , educated and proven personel to handle such big businesses in this country .
Qatar airways has 114 air busseswith a staff of 3650 . Srinalkan airlines has only 16 air buses but they are feeding 3800+ employees .. do we need all these people to run those 14 aircarfts ?
There are lot of mal practices such as taking charter aircarfts to foreign trips by the top government officials even at the expense of cancelling the scheduled fligts . Who's responsible for these ??
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