The Cabinet yesterday endorsed the proposal on Voluntary Retirement Scheme of Sri Lankan Airlines Ltd., under which a total of approximately 560 employees would go on retirement within three years.
The scheme is to be implemented considering the financial crisis faced by the Sri Lankan
Accordingly, a three- member committee chaired by the Secretary to the State Ministry of Aviation and Export Zones Development has been appointed to study the relevant matter.
It has been recommended to carry out the proposed scheme without hindrance to the operations of the company during the next three years.
It is expected that approximately, 560 employees will go on retirement under the scheme and it is estimated that it would cost Rs.1.46 billion for that purpose.
The proposal was tabled by Tourism Minister Prasanna Ranatunga.