Sri Lankan needs to be privatized soon

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Sri Lankan Airlines (SLA)

The Finance Ministry has made it clear that the Sri Lankan Airlines(SLA) losses could not be further paid by the taxpayers.
On several occasions, the importance of finding a suitable business partner and restructuring loans has been discussed but it has not happened yet.

The Government approved the re-issuance of all Letters of Comfort that expired during the period amounting to US$ 205.4 million and Rs. 27.6 billion, in favour of two-state banks, to continue SLA’s operations but financial analysts point out that this decision may negatively impact state banks.

Aviation Minister Nimal Siripala de Silva said that he intends to restructure loss-making SriLankan Airlines within this year.

In 2021, SriLankan reported a loss of Rs.171 billion, bringing its accumulated loss to a whopping Rs.542 billion.

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