Govt. to operate SriLankan on 51-49 equity partnership

23 March 2018 04:22 am - 27 - {{hitsCtrl.values.hits}}

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The government is prepared to grant 49 percent of the equity of SriLankan airlines together with its management to a private partner, Public Enterprise Development Minister Lakshman Kiriella told Daily Mirror today.

He said a consultant had been appointed to make recommendations for the restructuring of the national carrier.

“With regard to the equity we will retain 51 percent of the shares,” he said.

The minister said the airline would be restructured on the basis of a Private Public Partnership as envisaged by this government.(Kelum Bandara)

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Comments - 27

Sam Friday, 23 March 2018 05:17 AM

This make a lot of sense for the government. They will lose half as much money. Where on earth however are they going to find someone dimwitted enough to waste their money buying the 49%?

Sanka Friday, 23 March 2018 06:28 AM

No need to appoint a consultant and waste some more public money. Only two thing government has to do . 1. 1. 1.Appoint an industry experts as internationally as chair main, ceo and flight operation manager.2. Stop all the political interference and appointmentsIf government can do those, Sri Lankan will become profitable in 2 years.

KJ Friday, 23 March 2018 01:16 PM

Tony Fernandez.. he can bring some low-cost experience to full-fleet to his experience too. He's a wise leader and proven guy.

Rambo Friday, 23 March 2018 01:25 PM

Good proposal, avoid misuse the Airline by the Ministers and their henchmen they too have to pay at least 75% of the ticket fare [not with public funds].

Ralahamy Friday, 23 March 2018 07:12 AM

Business all over the world is run based on profit, including airlines. It is only in Sri Lanka that we run business to boost the politician's influence, ego, power and purse. Can we remember that this airline lost the CEO - a foreigner, because he could not accommodate a jumbo size delegation with the former president? Our nation is still paying for this circus. Keep all politicians out of state ventures, and we can see a decline in loss.

nimal Friday, 23 March 2018 04:15 PM

Pathetic...Can you see anything wrong with this govt. without blaming the previous govt.? This govt. has done much worst Mr. EElam just SYM

Dee Friday, 23 March 2018 07:37 AM

As long as the union is strong, no sane organisation would venture into this utter loss. Kick out the unions. Get some pilots from overseas at a much lesser rate . They would be much better too. Kick out the top management.

Razor Saturday, 24 March 2018 07:56 AM

Seems like you are well versed in the union activities at Srilankan,you dumb idiot! None of the unions involved Are lobbying for remuneration increments. All of them are fighting the govt led corruption. As for getting pilots for much lesser rates-Srilankan pilots are THE LEAST paid in the entire region. Try getting ones for cheaper. Go spread your keyboard wiseness elsewhere.

Ceylon Friday, 23 March 2018 07:38 AM

Government mean corruption.70 years lossess but still government invilve,mean still hanging on to it to steal.robery government go to hell.

Hope Not Friday, 23 March 2018 08:21 AM

Hope they will NOT recommend "Perpetual Treasury (PT)" as the private partner. However, PT has the huge amount of looted money with them to buy the 49% shares.

dulan Friday, 23 March 2018 09:08 AM

Private partner must be given controlling shares not 49%.Leave govt out of business

Jude Friday, 23 March 2018 09:19 AM

I will reiterate!! Govt.of SL must get out from airline business!!! And government should allow Private company foreign and or local run a airline with a Hub in SL!!! SL govt. should be in the business of Collecting Landing Fees which will be easily over couple of billion rupees per year!! Remember SL Is A Island and airlines has to fly in and out with passengers!! No other option!!! And don't sign any trade agreements that include giving a break on landing fees!!!

Keerthi Friday, 23 March 2018 12:28 PM

Mr. Expert... The Govt. is ALREADY collecting Landing Fees.

Sira Friday, 23 March 2018 09:34 AM

It is a better approach than to completely sell off our national airline. But the public deserves to know who owns the other 49%

Dhammika Friday, 23 March 2018 12:09 PM

NOBODY , Who will invest for a LOSS making airline ? .

Premalal Friday, 23 March 2018 02:21 PM

We must be the only country where white elephants are treated as national treasures.

Premalal Friday, 23 March 2018 02:24 PM

Well Mr. Sira we know who owns the 100% of a loss of 28 billion. You, me and the rest of the nation. Happy?

BuffaloaCitizen Friday, 23 March 2018 01:06 PM

After all what has happened, who is the foolish investor who will touch this claptrap? Further, the double standards, corruption, political monkeying, utter racism and an immune law

Suneth Perera Friday, 23 March 2018 01:35 PM

First of all there is a serious doubt that with present mammoth loss this kinds of partnership is workable. Please liquidate and help needy people with those taxed money wasting. Please rescue this economy by shedding government debts. Let private sector to run the economy.

Dasa Friday, 23 March 2018 01:40 PM

Well, how can you have a 51/49 share partnership with private sector when already the employees are holding 4% of the shares? They got shares in April 1998 when Emirates took 40% share. Many of the employees are now retired but are share holders. Ministers must first study the present situation, make an audit of the company and then talk. I wonder whether even the present directors are aware that employees who were there in April 1998 were given shares by the government. That means it will have to be 51% and 45% with employees and retired staff having 4%.

U D Jayawardana Friday, 23 March 2018 02:35 PM

No private public partnership is possible with government holding over 50% of the shares.As per the 19th amendment to the constitution majority government owned companies has to follow the government procurement procedures and the Auditor General has to be the Company Auditor.Which such regulations no private investor will invest or undrtake the management of such a company.

Kalu Sudda Friday, 23 March 2018 03:35 PM

Handover 85% plus the Catering, Ground Handling, Engineering (MRO) and Training Facility to a foreign airline/investor for 50 years. Complete management with the investor with 1 token govt rep on the board and all disputes to be settled in Singapore/London court. Abolish the trade unions. Only then will it work nothing else will work. Alternatively keep pumping US $500 million/year to this blood thirsty monster.

Rohan Friday, 23 March 2018 04:02 PM

You all unskilled ministers appointed for key positions have failed repeatedly. Only way that people of Sri Lanka can get a reprieve from the burden of white Elephant Sri Lankan Airlines is to privatize 100% the airline or close down.

Jude Friday, 23 March 2018 07:04 PM

When I'm referring to charging Landing Fees, I mean increase it by substantial amount!!! Yeah, charge double, treble or even quadruple from current amount!!! Yet all airlines will land SL airports!!

Gahalaya Saturday, 24 March 2018 09:02 AM

I thought every one is happy and living in peace after 8 th January 2015. What has happened ? Why all you suckers are still complaining?

ND Saturday, 24 March 2018 02:45 PM

Well said Sanka! That's exactly what UL needs!

lanka Saturday, 24 March 2018 05:29 PM

An Airline is a country's pride. It can easily be run, manned by educated Sri Lankan professionals without politicians like Kiriella meddling in the affairs. Appoint Sri Lankans with credibility, not political stooges. Kick the JVP troublemakers out of Trade union activity.

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Govt. to operate SriLankan on 51-49 equity partnership

Comments - 27

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