True Profits

Rising profits from ground handling and an accounting policy change helped SriLankan Airlines buck the international trend to report a Rs. 2.1 bn (US $ 21mn) group profit for the financial year ending March 2003, but its air transport operations are still in the red.
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Withoutrnthe profits of its catering subsidiary, the airline on its own made only Rs. 1.3rnbn.

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But Rs.rn1.2 bn of this also came from an accounting write-back after the airline changedrnthe way it accounted for major repairs and overhauls of aircraft.

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