SriLankan Airlines incurs to Rs.13Bn loss in first 4 months of 2019

Jul 02, 2019 (LBO) – State-run SriLankan Airlines total loss has increased to 12,961 million rupees in the first four months of 2019, a new report said.

The total debt of Sri Lankan exceeded US 750 million dollars,
according to mid –year Fiscal Position Report -2019 of the Finance Ministry.

“While the Government is currently bearing US 375 million dollars and 26,250 million rupees of contingent liabilities since 2014,”

“This includes the guarantee granted for International bonds and letters of comfort issued to obtain loans during the BIA closure in 2016.”

The report also sugessts that the Government of Sri Lanka (GOSL) needs to have a significant business restructuring model, owing to the high possibility for the Government to bear the loss.

An expert Committee was appointed by the President to provide a report of policy recommendations.