Sri Lanka state-run airport firm profits up 40-pct

July 02, 2011 (LBO) – State-run Airport and Aviation Services (Sri Lanka) Ltd, which has a monopoly airport operations in the island has reported a profit of 1.3 billion rupees for 2010, up 40 percent from a year earlier.

AASL is also planning a 400 million dollar expansion of Katunayake, according to other reports.

Revenues rose to 6,091 million rupees from 5,491 million a year earlier. It had expenses of 4.1 billion rupees, up from 4,050 million a year earlier, with staff costs going up to 2.8 billion rupees from 2.6 billion.

AASL runs Sri Lanka’s only international airport at Katunayake and domestic air strips. It is now building a second international airport in Mattala in Sri Lanka’s south with a loan from China’s Exim Bank.

The airport is expected to cost 209 million dollars. A finance ministry report said it would have a capacity to handle a million passengers, 45,000 metric tonnes of cargo and 30,000 aircraft movements a year.