Making a modest come back after a disastrous year, SriLankan Airlines on Wednesday reported a Rs. 1.4 bn post-tax profit for the financial year ending March 2002, from a Rs. 5.8 bn net loss in 2001.
The Group, which includes SriLankan Catering, made an accumulative profit of Rs. 2.0 bn.
rnrnFollowing terror attacks of 9/11 and July 24, SriLankan underwent a major re-structuring programme to shed excess weight.
rnrnThe results released Wednesday, stem from tough business and corporate decisions the management took by, shedding excess staff, shifting staff into more efficient areas, closing unprofitable routes, increasing frequencies on profit making sectors and launching radical new sectors during the crisis time.
rnrnTotal operating revenues fell 3.6 percent to Rs. 29.35 bn, while passenger revenue, excluding charters posted a slim Rs. 23 bn growth.
rnrnldblquote If the tragic events of 2001 taught us anything, it taught us to do more with less!
dblquote Chief Executive Peter Hill said in a re