Committee appointed to oversee SriLankan Airlines restructuring

Colombo, June 12 (Daily Mirror) - The Cabinet of Ministers has approved the appointment of a high-level committee to carry out a strategic review and restructuring of SriLankan Airlines, aiming to establish a more financially sustainable and commercially efficient national carrier.

The committee will be chaired by Senior Presidential Advisor on Digital Economy Dr. Hans Wijayasuriya.

Its members include Senior Presidential Economic Advisor Duminda Hulangamuwa, financial and corporate strategy expert Deshal De Mel, and investment banking and mergers and acquisitions specialist Dumith Fernando.

Also serving on the committee will be the Secretary to the Ministry of Finance or a representative, the Secretary to the Ministry of Transport, Highways and Urban Development or a representative from the Civil Aviation Authority, and the Chairman of SriLankan Airlines.

In addition, legal experts with knowledge in corporate, aviation and public law, along with aviation industry specialists to be appointed, will also be part of the panel.

The government said the initiative reflects the urgent need for a comprehensive review of the national carrier, taking into account the broader macroeconomic environment. The key objective is to reduce the long-term fiscal burden on the state while ensuring the airline’s commercial viability.

The restructuring process will be carried out in collaboration with the International Finance Corporation (IFC), which is serving as the transaction advisor.

The committee has been tasked with conducting an independent assessment of the airline’s strategic direction, recommending restructuring models, evaluating future options, and identifying the most suitable path aligned with government policy objectives.

It will also provide oversight and guidance during the implementation phase of the selected restructuring strategy.

The committee will remain in operation for the duration of the review and restructuring process, until formally dissolved by the government.