Committee appointed to restructure SriLankan

28 November 2017 07:30 pm - 8     - {{hitsCtrl.values.hits}}

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A ministerial committee chaired by Prime Minister Ranil Wickremesinghe and an official committee headed by Treasury Secretary R.H.S. Samaratunga have been appointed to look into the restructuring of SriLankan airlines, a government source said.

He said the two committees have also been tasked with the selection of a suitable strategic partner and investor to operate the national carrier.

They are expected to submit their reports with recommendations before the end of the year.

The ministerial committee will mainly focus on policy issues and a new management structure to be introduced with the restructuring of SriLankan on the basis of a Public Private Partnership (PPP).

"The main task of the official committee will be to see how to offset the national carrier's debt of US$702 million as no investor wants to partner with it with this liability. We are trying our best to find a way to settle this with local and foreign financial institutions and select the best investors among eight global and regional airlines that have shown interests for such a business model," the source said.

He said SriLankan airlines would not be sold outright to any one and the official committee would consider all options and decide how to revive the airlines and at least turn it into a no profit, no loss venture without being a liability to the Treasury.

“A big question mark hangs over the deals negotiated to purchase six new Airbuses, as the price quoted was much higher than the prevailing market price," the source said.

The original blueprint drawn during the Rajapaksa administration was to purchase 13 aircraft. A 320, A 330 and A 340 air buses were to be delivered by the Air Bus Industries at a list price of US$1.5 billion by 2020 on a staggered basis.

Sri Lanka expects to host 2.5 million tourists by 2020 and the target would not be met if the fleet of aircraft remained obsolete and ground handling inefficient. Therefore, in addition to purchasing new aircraft, the Civil Aviation Ministry has already taken steps to build another terminal adjoining the existing one at the Bandaranaike International Airport. (Sandun A. Jayasekera)

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  Comments - 8

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  • ceylon Tuesday, 28 November 2017 09:53 PM

    stupid.have to use this word allways when talk write about srilanka.under government this air line is using to steal.again doing the same.privertise it. via DM Android App

    nishantha Tuesday, 28 November 2017 10:51 PM

    Appoint a commitee from singapore. they will make a difference. not our locals.

    N V Jen Tuesday, 28 November 2017 11:46 PM

    Bring back all the money stashed in Middle East, Seychelles etc.by the previous VVIP to compensate the higher prices quoted by Air bus. Part of this deal is in above mentioned places only.

    Kumar Wednesday, 29 November 2017 04:59 AM

    What is needed are not more committees but a vision based on outside the box thinking. How about a long haul route with unique multiple stops, say, Colombo to Tokyo with landings in Singapore, Malaysia, Cambodia, Vietnam; all seats would be 100% sold.

    NO Wednesday, 29 November 2017 11:15 AM

    There will be landing COST for multiple stops @ every Airports.From SIN, the SQ is already dominating the route unless cheaper price is offered.

    nick Wednesday, 29 November 2017 10:17 AM

    everything is committee committee this government done speak any other language than committee anyway public are fed up with all these lie committees via DM Android App

    Udda Wednesday, 29 November 2017 10:29 AM

    Typical Ranil. More committees with same old cronies.

    Kalana Wednesday, 29 November 2017 12:38 PM

    No committees required. Appoint suitable people to the Board and Chairman and CEO. having useless people nothing can be done.


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