SriLankan Airlines clarifies 2024/25 financial losses

25 October 2025 12:31 pm Views - {{hitsCtrl.values.hits}} 17 Bookmark

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By Huzefa Aliasger

Colombo, October 25. (Daily Mirror) - SriLankan Airlines has issued a statement to clarify its financial performance for the 2024/25 fiscal year, following recent reports on its reported losses.

The national carrier recorded a Group loss of LKR 2,735 million for 2024/25, a significant change from the LKR 7,925 million profit reported in 2023/24.

The airline explained that the difference was primarily due to a substantially lower exchange gain — LKR 3,925 million in 2024/25 compared with LKR 26,717 million in the previous year. SriLankan Airlines noted that this gain arises from the revaluation of foreign currency–denominated interest-bearing liabilities, where an appreciation of the Sri Lankan rupee leads to a financial gain.

Excluding the exchange gain, the Group recorded a loss of LKR 6,660 million in 2024/25, an improvement over the LKR 18,792 million loss recorded in 2023/24 before factoring in exchange gains.

The airline emphasized that the figures reflect underlying improvements in operational performance despite fluctuations in currency valuations.

Comments - 17

A A D D S Saparamadu Saturday, 25 October 2025 01:57 PM

This is how accounting works real world: with a quick sleight of hand a Rs7,925B profit made in 2023/24 is now reported as a Rs18,792B loss and the loss of Rs 2,735B made in 2024/25 is a big improvement compared to last year

2 15

Harsha Wijewardene Sunday, 26 October 2025 12:24 AM

Srisunken drainlines a big drain on tax payers money. Burning cash, corrupt from top to bottom. Overstaffed with lazy political lackeys.

0 4

Asif Saturday, 25 October 2025 02:32 PM

The reasons that Sri Lankan is an utter failure. Poor customer service, delays to flights, impossible to get a refund or compensation when they mess up. The ground staff are rude and ignorant. Email and telephone queries are ignored. The only good thing about SL is their cabin crew. I have flown with SL twice and each time was a complete comedy of errors. I now use either Etihad or Emirates and would not consider using SL at all. If you doubt me just have a look at Tripadvisor and Skytrax reviews.

11 42

Weary Saturday, 25 October 2025 03:18 PM

Clearly u are a problem passenger, go and pass on your issues to another airline. I have flown SL on innumerable occasions over the decades, never an issue other than retarded passengers, feel sorry for the staff who have to deal with them.

37 20

Asif Saturday, 25 October 2025 07:46 PM

Work for Sri Lankan I assume. Guess the truth hurts weary boy.

3 11

Helanka Saturday, 25 October 2025 03:58 PM

I once flew from Maldives to Sri Lanka...there was a severe storm, aircraft tried to land several times, rotated about 10 times around the airport and pilot decided to divert to Mattala. Before the last rotation, he informed all passengers there's only 10 mins of fuel left in the aircraft. All the passengers were extremely distraught including many foreigners. The idiot pilot then proceeds to rotate another 5-6 mins

2 12

Mackay Saturday, 25 October 2025 04:54 PM

@ Helanka- This is one of the real reasons for the Palali airport to be uplifted. Politics won’t allow it. SL will never improve. All Southern political parties are the same. If it’s two states in one country, SL would have progressed by leaps and bounds. Competition is necessary for improvement.

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Flyer Saturday, 25 October 2025 06:19 PM

WHY NOT INCREASE THE MIDDLE EAST FLIGHTS. EMIRATS OPERATE 4 FLIGHTS FROM DUBAI. AIR ARABIA OPERATES 3 FLIGHTS FLY DUBAI OPERATES 4 FLIGHTS FROM DUBAI. SRILANKAN ONLY ONE FLIGHT. SO INCREASE THE FLIGHT AND REDUCE THE AIR FARE. MORE PROFITABLE. !!

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RanjithT Saturday, 25 October 2025 06:43 PM

SriLankan explanation is correct and in fact in fairness to operational profitability 24/25 before financial cost and taxation SriLankan has improved by about SLR 11 billion over 23/24 financial year. The only way to avoid these huge FE gains and losses is to move into dollar accounting. Unfortunately, at the end of the day SriLankan is a loss making SOE

2 9

Ravana Saturday, 25 October 2025 07:03 PM

Slowly. Day by day, month by month, step by step, we will bring the airlines back to profit. When it is in profit can we lower the taxes for SL citizens? Even a free ticket seems to be next to nothing when compared with the taxes which are to be paid.

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big red sari Saturday, 25 October 2025 07:38 PM

These losses must be because thay are feeding fat cabin crew. the other day I saw at the airport a huge crew member. she is not only huge she was also wearing big sari with red all over her. that is where the money is going. feeding them.

5 1

Cassie Saturday, 25 October 2025 09:21 PM

Someone's head is in the clouds. While Emirates managed Sri Lankan airlines until 2008 the financial data shows profits. It has been on a losing streak since 2009 when Emirates contract ended. Wake up to this reality. We do not have the expertise to turn this around and be consistently profitable. In any other nation the upper management would be fired for such financial loss but Sri Lankan rewards them!

0 12

Staff Saturday, 25 October 2025 10:16 PM

By 1998, it had begun to invest in other carriers such as Air Lanka —Emirates Group took a 43 per cent stake in this airline, which was later renamed SriLankan — and signed a 10-year management contract. SRILANKAN AURLINES CANCELLED THE CONTRACT NOW BECAME SRILANKAN BANANA AIRLINES

0 8

R Navaratnam Sunday, 26 October 2025 04:53 AM

No need for clarification; perform or leave to avoid wasting of taxpayers money. For the benefit of this country, privatize the airlines.

0 2

Lost Lankan Sunday, 26 October 2025 07:29 AM

Amongst the other world class airlines, we must appreciate the services of our national carrier. The on-board crew are politer than other airlines. Sri Lankan aged parents on board feel the comfort of these crew giving much needed help we must admit. The loss bearing is not something we are learning for the first time it always been absorbing national wealth for survival primarily due to political influences. Just go back to days when it was managed by Emirates the numbers were promising. I also echo the sentiments the ground staff, customer service etc. aren't so supportive that is because of the internal cultural issues and the way they are recruited to influenced recommendation than the reap interview process. We must hat off to airline who have made no impacts to passengers on board not compromised on service and quality level specially during the economic crisis personally witnessed. This proud national carrier brought many Sri Lankans home safely must pay gratitude.

0 2

Sr Sunday, 26 October 2025 10:28 AM

SL Air.....will become a highly profitable line from near future.....bcas necessity.

2 1

Harsha Wickramasinghe Sunday, 26 October 2025 10:43 AM

I fly this airline frequently and I'm very pleased with the service they provide me. There were delays sometimes but all in all it's a fabulous airline compared to many other airlines I had to use in the recent past. Most airlines lost heavily since 2008 due to the oil price crisis...

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