Off The Runway

Capitalising on the recent peace dividends, SriLankan Airlines plans to step up its recruitment drive and scout the second-hand aircraft market to lease two Airbuses and a smaller passenger aircraft this year, the national carrier
quote s CEO said today.

rnrnThe carrier also hopes to swing back to a profit in the present fiscal year after reporting a string of losses.

rnThe airline made a Rs. 5.826 bn loss for fiscal year ended March 31, 2001 compared to a loss of Rs. 388.2 mn. Earnings for the just concluded financial year are not available yet, but Peter Hill said in an interview that the airline is likely to post a smaller loss compared with 2001.

rnldblquote Our recovery hinges on the ongoing peace process,” says Hill. “We expect to post a small profit in the current year (ending March 2003) and if peace comes, earnings will be considerably boosted further,
dblquote he said adding that balance insurance monies received from the loss of aircraft last year will also boost the bottomline.

rnThe ai