Air Pocket

Dilshan Wirasekara, Chief Executive Officer of First Capital Treasuries PLC

The government is to re-tender for private investors to manage Sri Lankas Air traffic, after discussions with tech giant Lockheed Martin, fell through.
The company had already made a preliminary bid last year, to manage Sri Lankas upper airspace, with negotiations on its way to a firm commitment.rn

rnBut a top-level government policy decision pulled the stops on the project on the grounds it violated proper procedure and ordered for a fresh tender.rn

rnThe Lockheed Martin proposal also included plans to modernise navigation facilities at the Katunayake Airport, Board of Investment officials said.rn

rnThe US$ 25 mn project was to be entirely funded by Lockheed Martin with the government to be paid a fee that in the region of an estimated US$ 1.5 mn per annum.rn

rnThe project was to be the first phase in unbundling aviation services, introducing a computer-based system that would optimise flights paths and increase traffic.rn

rnldblquote Singapore Airlines has already given us a firm commitment