Prime Minister Ranil Wickremesinghe said the world-famous SriLankan airlines would be restructured and converted into a profitable venture.
Speaking at an election rally in Dehiwala on Monday, he said the airline would never be grounded while its employees would be retained.
“We are considering the possibility of obtaining the support of a foreign airline with experience and modern technology for the restructuring process. We are formulating a mechanism for the Treasury to bear losses of up to US$1,200 million,” the Prime Minister said.
He said the once-profitable SriLankan Airlines was turned into a loss-making venture because of the poor management during the Rajapaksa regime and underscored the fact that it was a challenge to rescue the airline from its current situation and make it a profitable venture.