Sri Lankan airline stake to be sold at ‘right price’: Emirates chief

May 13, 2010 (LBO) – Emirates airlines will sell its stake in Sri Lanka’s national carrier SriLankan if the price was right, a media report quoting chairman Sheikh Ahmed Bin Saeed Al-Maktoum said. Emirates Airlines owns a 43.5 percent stake acquired during the time it ran the airline on a 10-year deal, which it exited in March 2008.

In February the majority Sri Lankan government owned carrier’s chairman Nishanta Wickremasinghe said the main shareholder was in talks to buyout Emirates.

Bloomberg newswires quoted Al-Maktoum as saying that Emirates will sell its stake ‘at the right price’. Sri Lankan lost 9.9 billion rupees in the year to March 2009 but is expected to do better with a revival in tourism after a 30-year separatist war ended in May 2009.

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