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.
Withoutrnthe profits of its catering subsidiary, the airline on its own made only Rs. 1.3rnbn.
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.