SriLankan Airlines plans fleet expansion to 50 aircrafts in five years

7 February 2025 02:25 am Views - {{hitsCtrl.values.hits}} 63 Bookmark

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CEO Nuttall says goal is to double capacity
Arrangements are in place to procure three wide-bodied aircrafts on wet lease
Says as long as there is demand, the airline could make necessary upgrades and if required would add flights to specific routes

Richard Nuttall
Pic by Kithsiri de Mel

By Nishel Fernando

SriLankan Airlines plans to double its fleet to 50 aircraft within five years as Sri Lanka targets US $10 billion in annual tourism revenue by the end of the decade.

The National Carrier was in possession of 27 aircrafts in prior to the Covid-19 pandemic and currently has 22 aircrafts in its fleet.

“Our goal is to double the capacity in five years,” SriLankan Airlines Chief Executive Officer Richard Nuttall told Mirror Business speaking along the sidelines of the launch of Sri Lanka Conference Ambassador Programme (SLCAP) in Colombo this week.

By end 2025, SriLankan Airlines is planning to boost its capacity by 25-30 percent compared to end of last year by adding three wide-bodied aircrafts. Nuttall noted that arrangements are in place to procure three wide-bodied aircrafts on wet lease.

The NPP government which came in to power late last year decided do away with previous government’s plans to sell the debt-ridden national carrier, instead, the Government has announced a five-year corporate plan to revive the airline.

The national carrier’s financial took a beat in the first three months of the 2024/2025 financial year (FY). Its revenue dipped 12.7 percent Year-on-Year to Rs. 63.8 billion in 1Q25. Though, it was able to post a profit before tax of Rs. 0.6 billion, it was drastically lower than the Rs.8 billion recorded in the corresponding period the previous year. The airline reported a net loss of Rs. 12.9 billion in 1Q25, compared to Rs. 25.8 billion net profit recorded in 1Q24.

The Treasury continued to provide equity injections and other supportive measures including loan guarantees to maintain the operations of SriLankan Airlines.

However, recent spike in tourist arrivals is expected to have improved the financials of the National Carrier. Out of the top ten source markets, SriLankan Airlines was the main airline for seven markets as of December last year.
Nuttall, while addressing the panel discussion at the event, noted that as long as there is demand, the airline could make necessary upgrades and if required, it would keep adding flights to meet the demand on specific routes.
He went on to point out that Sri Lanka lacked consistency in past tourism initiatives. Therefore, moving forward, he stressed that the country must maintain consistency focusing on governance aspect of such initiatives.

Comments - 63

Indi appa Friday, 07 February 2025 08:09 AM

Tourism?? Who old want to come after tourists are being poisoned while sleeping in hotels..

38 11

sumo Saturday, 08 February 2025 04:00 PM

(W) Anker boy. you do need some extra grey matter in your cranium.

3 14

Rukman Perera Saturday, 08 February 2025 06:49 PM

Not hotel it was a hostel, don't you know the difference between a hotel and a hostel. Hostels offer low quality cheap accommodation and run by unqualified unskilled greedy people. The hotels in Sri Lanka are of very high standard compared to many western countries. You will realise this only when you travel outside of Sri Lanka.

1 25

Amaree Friday, 07 February 2025 08:14 AM

Sir, BEFORE doubling, please replace the old aircraft with relatively new ones. I was flying from SYD to CMB last December. I headset port was not working on the seat.

7 36

DJ Saturday, 08 February 2025 05:28 PM

Absolutely

0 7

S P Monday, 10 February 2025 01:50 AM

Whatever they do it would be hard to compete with low cost carriers like Air Asia. Out of nostalgia I checked the ticket prices from Colombo to Singapore to come to Aus. SL was the highest (Rs 100k), Singapore Airlines (Rs 80k) and Air Asia all the way from CMB to Aus via KUL was a meagre A$ 311 (Rs 62k). How can SL Airlines compete with such prices?

2 6

Dr Tissa Fernando Friday, 14 February 2025 09:08 PM

There is hardly any competition, you put a reasonably comfortable flight, there will not be any empty seat on it. You must see the low service standards in western and US flights. But people fly with those airlines. Only couple if Gulf airlines and Singapore Airlines really offer a service to remember. But Sri Lankan service is good so you only need additional aircrafts.

0 0

Harsha Wijewardene Friday, 07 February 2025 08:55 AM

What a drain on tax payers, corrupt from top to bottom and overstaffed with lazy political lackeys.

10 32

P K Eran Friday, 07 February 2025 08:56 AM

Nuttall or all nuts ?

8 27

A Concerned Citizen Friday, 07 February 2025 09:09 AM

That is fantastic; Any deals with Europe's Air Bus Corporation? Will you get the deals to be negotiated by Udayanga Weeratunga?

6 17

L.Mallawarachchi Friday, 07 February 2025 09:10 AM

First target should be to operate on time respecting valuable time of passengers. Then make the operation profitable and pay soaring debts with the money earned by the airline and not by the money of tax payers. Then fly with your dreams.

2 26

Rich Sat Sunday, 09 February 2025 05:28 PM

Guys relax. For the financial year 2022–2023, SriLankan Airlines achieved a break-even for the first time in over a decade and posted a net profit of $3 million. SriLankan Airlines won the 2024 IFSA Best Inflight Food or Beverage Innovation Award at the APEX (Airline Passenger Experience Association) and IFSA (International Flight Services Association) Global Expo October 2023. Also, do you know how many mid-air explosions have been prevented by Usually being Late? At least two: Air Lanka Flight UL512

3 3

Selvan Friday, 07 February 2025 09:20 AM

Please recruit Tamil speaking ground and cabin staff.

8 29

Pusa Friday, 07 February 2025 07:04 PM

Can't...they are too ugly !

35 13

Jude Friday, 07 February 2025 09:26 AM

ABSOLUTELY LUDACRIS IDEA!!!

9 10

SELLING OF OUR ASSETTS IS NOT GOING TO SOLVE AND OR RESOLVE THE ISSUES, LET'S GIVE IT ANOTHER GO. Sunday, 09 February 2025 01:40 PM

EXCELLENT IDEA, IF THE CEO CAN FIND A WAY OF RELEASING THE STAFF THAT WERE SELECTED WITH INFLUENCE OF CORRUPT POLITICIANS AND ARE INCAPABLE OF PERFORMING THEIR DUTIES TO EXPECTED STANDARDS. BY THE WAY, BEAUTY IS BUT SKIN DEEP!!. EMPLOY WHERE POSSIBLE PEOPLE OF ALL RACES, SO THE TOURISTS CAN BE SERVED WITH EFFICIENCY. STAFF SHOULD BE MONITORED FOR EFFICIENCY AND THOSE WHO FAIL TO MEET THE STANDARDS, SHOULD BE TRANSFERED TO GROUND OPERATIONS.

0 4

Jude Friday, 07 February 2025 09:31 AM

SriLankan airlines Never Made a profit since 2009 when Emirates management contract was arbitrary cancel by MR. The airline cooking the books. Even The airline get another 100 planes SriLankan airlines won't make sustainable profit!! The Brit CEO talking the government for a ride.

11 23

Ranga Bandara Friday, 07 February 2025 09:37 AM

Sir, I hope you can also address the mindset and attitudes of the Sri Lankan engineering staff. Based on my years of experience, I recommend that unions be removed from the system in order to support the success of your strategies. It is important to note that the unions have become heavily politicised. The need to correct their attitudes for progress is essential.

5 31

Weary Friday, 07 February 2025 05:48 PM

Yes, very necessary to deal with staffing at all levels. Fleet should replaced with new aircraft, should have been done a decade or more earlier. Why not buy new Comac aircraft from China? Fleet of old aircraft simply not financially viable, never has been and never will be. Hambantota airport should be set up to carry out all maintence, not sign agreements with German company, outsourcing employment and exporting our capable engineers who can do the work after appropriate training.

3 7

Jude Friday, 07 February 2025 09:38 AM

I can't understand why The Treasury funding The internally loss making airline. The government should get out of airline business otherwise this government gonna be One term government for sure. People didn't vote This government to throw Good money after bad. Making losses in billions by SriLankan airlines not gonna bode well with the rural folks. Government helping some Rich people and foreigners to roam around the world on SL public dime!!

12 18

Gabriella Friday, 07 February 2025 09:51 AM

If all the Sri Lankan "experts" shut up and give Mr Nuttall a "free-hand, " we will have our world class airline restored.

9 30

Jude Friday, 07 February 2025 09:52 AM

This the problem is the ගම් බට්ටන් believe everything the White guy says. Hello we don't need a Brit CEO drawing massive salary in American dollars for money losing airline!!! If The airline losing money eternally Why we need a foreigner CEO, might Have getta graduate from Sri Jayawardene Pura university MBA graduate who'll do a better job and the government Will save tons of money in terms of CEO salary.

39 5

Gabriella Friday, 07 February 2025 02:05 PM

Why don't we get a University of Peradeniya graduate and crash a few planes? I can't believe I am wasting my time replying to a person with the intellectual capacity of a rock.

6 34

Jude Friday, 07 February 2025 09:23 PM

Hey Gabriella, if you ask 100 intelligent people in SL about SriLankan airlines making sustainable profit, 99 will say it's not gonna happen. Only dumbass low IQ people like you will hope SriLankan airlines will make a profit. Government should get out of airline business. And charge exorbitant amount of money from any airline touching down Lankan airports mind you we're a island and that's The only way to reach SL. That will give government revenues in billions instead losing billions. Lastly, sell the DAMN airline or beg and plead Emirates airlines to take Over the management.

16 5

D.M. IS JUDE ANOTHER TROLL OR STOOGE ALLOWED TO RUN WILD IN THIS SPACE?? Sunday, 09 February 2025 01:58 PM

JUDE, YOUR COMMENTS ONLY INDICATE THAT YOUR IQ IS WAY TO LOW, SO YOUR COMMENT HOLDS NO WATER. GABRIELLA'S COMMENTS GO TO PROVE HER IQ.

0 4

THE C.E.O. WILL NOW BE ABLE TO DO HIS JOB WITH NO INTERFERENCE , NOW THAT THE CORRUPT LOT ARE NO LONGER IN POWER TO PULL THE STRINGS. Sunday, 09 February 2025 01:54 PM

JUDE YOUR LUNACY IS WELL DISPLAYED!!. GABRIELLA, YOU ARE CORRECT. I SUGGEST THE DM PUT ALL HIS COMMENTS IN A BIN, LIKE THEY HAVE DONE SOME OF MINE FROM TIME TO TIME, MORESO IN THE PAST. JUDE DO NOT DISPLAY YOUR DISLIKE TO THE COLOUR WHITE, IT IS NOT THE COLOUR OF ONES SKIN!!. IF THAT IS THE CASE LOOK WHERE WE ARE WITH CORRUPTION, MISMANAGEMENT, POLITICIANS, FAMILIES AND STOOGES HAVE BECOME RICH AFTER COMING INTO POLITICS AND NONE OF THEM HAD WHITE SKINS!!. OTHER THAN SOME FEMLES WHO USED A CREAM TO CHANGE THEIR SKIN COLOUR!!.

0 6

Jude Friday, 07 February 2025 09:53 AM

Hey NPP Wake up, this guy gonna bankrupt the country again.

20 8

Jude Friday, 07 February 2025 09:55 AM

The businesses that will never work for lankans is airline business. Most top airlines are losing money. Sri Lankan airlines no exception!!

9 14

Jude Friday, 07 February 2025 10:01 AM

If someone in front of me said we need a national airline, am gonna slap that person yeah slap hard.

10 10

Jude Friday, 07 February 2025 10:04 AM

There are some businesses doomed to fail in Sri Lanka and the airline business on top of that list.

8 11

RF Friday, 07 February 2025 10:10 AM

How can the airline report a loss for Q 1 of 2025 when we are yet to complete the quarter.

2 17

Ram P Friday, 07 February 2025 10:17 AM

This is a fat hope. First money must be available to purchase the aircrafts. If they are purchased on loans end result the payment will by us when the debts are unpaid

6 12

Jude Friday, 07 February 2025 10:17 AM

In a related story there's this guy Canadian Robert Deluce coming from a Aviation family, he's bankrupt More than 5 airlines and bought and sold another few airlines. Interestingly he have few people to invest in airlines but SriLankan government should stop funding SriLankan airlines, period.

5 11

Jude Friday, 07 February 2025 10:18 AM

Funding SriLankan airlines is like milking a dead cow., yeah.

7 15

Jude Friday, 07 February 2025 10:20 AM

Richard Nuttall Go back to wherever you came from, just don't waste Lankan taxpayers money and SL people's money.

16 9

Sarath Gooneratne Friday, 07 February 2025 10:34 AM

Best is to give the airline back to Emeratus to run and share the profits.

5 15

LMAO Sunday, 09 February 2025 04:15 PM

They don't want it back now, ha, ha.

0 0

martin Friday, 07 February 2025 11:23 AM

Please launch flights to USA and Canada if you want to bring in rich tourists that spend in USD.

15 10

Vishwa Friday, 07 February 2025 12:49 PM

okay this is the deal.. if you dont make profit no salary to you..

1 9

Muhunthan Friday, 07 February 2025 01:09 PM

The Palali airport should be extended for international flights.Presently the army is occupying one end of the runway preventing from extension. The high security zone should be removed. War was over in 2009.

10 11

Yakada Malli Friday, 07 February 2025 03:55 PM

What had that to do with buying aircraft??

3 3

NV Jen Friday, 07 February 2025 04:40 PM

People in that area are also opposing taking over land for air-port expansion. Morons like Gajendrakumar Ponnambalam are supporting them as these imbeciles don't want North East to develop.

2 6

Chinnan Friday, 07 February 2025 07:26 PM

The Sinhala governments have tasted power over Tamils to show their kith and kin to be in power. Removing the unwanted security zones and army cultivating in these private property zones, should be number one priority for the NPP. If not they will collapse in NP.

7 5

ant Saturday, 08 February 2025 04:05 PM

This about airlines and profitability etc. not a forum for age-old chip-carrying shoulders. Get real and stick to what is here.

1 3

Inshi Friday, 07 February 2025 05:23 PM

Safety, punctuality and good service is what is expected of our National Carrier.This should never be a burden on the government anymore like it has been in the past. If there is a good turnaround of the loss making industry into a profit making one, then worth all the troubles.

0 11

Carlo Friday, 07 February 2025 05:45 PM

Why are Sri Lankan airlines so expensive when compared to other carriers? Airport and airline corruption. They would do better to lower prices and actually have full flights. I have never been on a full Sri Lankan airlines fight.

0 4

Carlo Friday, 07 February 2025 05:45 PM

Why are Sri Lankan airlines so expensive when compared to other carriers? Airport and airline corruption. They would do better to lower prices and actually have full flights. I have never been on a full Sri Lankan airlines fight.

0 1

Carlo Friday, 07 February 2025 05:45 PM

Why are Sri Lankan airlines so expensive when compared to other carriers? Airport and airline corruption. They would do better to lower prices and actually have full flights. I have never been on a full Sri Lankan airlines fight.

2 1

SRIMAL BADUGE Friday, 07 February 2025 07:22 PM

I just arrived to Sri Lanka by Sri Lanka airline from Bangkok, I had choice should I choose SRI LANKAN, AIR ASIA OR THAI AIR ,I choose SRI LANKAN to support Sri Lankan national carrier.price slightly different from Thai airways and much higher than air Asia. After entering in to aircraft I realised I made wrong choice. Captain announced it's using A320 Air bus it was sooooooo small size and it's almost very full size, to my horror there very old aircraft and there NO build in TV, flying time is 3 hrs and 10 minutes tho it's not a long haul flight this flight is suitable for shuttle to near buy destination not 3 hrs flying time. If I compare air Asia is much better in comparison seats. Also no TV but less expensive, food Sri Lankans served was very poor everything standed goes down, on time dep and arriving I thumbs up. Pls looks in to these before purchasing or adding any other aircraft get a house in order.

0 7

Ranil Friday, 07 February 2025 10:01 PM

Is this decision profitable? At the moment it a bankrupt entity and always tickets are full. How are you going to recover it? The even wanted to sell it and you’re going to include another 50 aircraft’s. Who is going to pay for it and settle the old out standings? There had also been corruption that has taken place, another entity MIHIN AIR was forced to crash land and you seem to talk big like it’s your grand fathers yard bunk-loth business Co. Please submit a proper blue print business plan and show the profit figures your going to make and also a study of the existing bunker-Kothu plan with the bribes taken place and the crooks who have been caught and also who are going to be caught. Remove all the irresponsible staff out as well.

1 5

Ravi Jhon Saturday, 08 February 2025 01:07 AM

CEO Nuttal is a correct we need to have at least 6 new planes if we are to revive Sri Lankan airlines some of the idiots who commenting are clue less Sri lanka is in unique place any flight starting Colombo to any destination in the world be it North South East West can be done under 15 hours non stop as long has we new planes this is the area we should look into buying Boeing Dreamliner the best option

1 6

Gokula Siripathiarachchi Saturday, 08 February 2025 05:43 AM

Great idea! let's give business leaders a free hand where public money is concerned. Like Trump and Musk which seems to be working really well.. BTW, .no one has a right to ask experts or otherwise to shut up when it concerns ventures funded by their tax money

2 2

Gabriella Sunday, 09 February 2025 10:12 AM

@ Gokulla Serapunathi Oh ye loyal patriot and defender of the Sri Lankan taxpayers interests, where were you when Meeharak of your ilk were managing the airline and losing billions ? I know, you were lecturing at the Peradeniya University and regaling your students with tales of destruction wreaked on this bankrupt nation by the British.

1 2

Puswadilla Saturday, 08 February 2025 06:13 PM

Can you give a brief experience background of this person please before anything?

0 0

Dr Tissa Fernando Saturday, 08 February 2025 06:58 PM

There is a lot of scope in the aviation sector. Everywhere in the world the flights are running at full capacity. There is no single empty seat in most of the flights. With a proper management, the SL airline could become profitable like other airlines. Most of the looses are due to bad and corrupt decisions taken.

0 4

Dilakshan Seneviratne Wednesday, 12 February 2025 04:04 PM

They will start flying to Nicaragua with the new aircraft at bargain price.

0 1

Ranga Saturday, 08 February 2025 08:19 PM

Not as ugly as you

0 0

Treehorse Saturday, 08 February 2025 09:17 PM

Usually Late (UL) messed up my special meal preference 3 times, failed to pay compensation for damaged even after agreeing, failed to respond to emails , this list go on. Before you plan to expand, please improve customer service and fly on time.

1 2

NEXT TIME, TAKE YOUR SPECIAL MEAL ALONG TO AVOID A REPEAT Sunday, 09 February 2025 02:20 PM

SOME OF OUR SRI LANKANS ARE WELL KNOWN FOR TRYING TO MAKE FALSE CLAIMS IN AND OUT OF THE COUNTRY!!. AND YOU APPEAR TO BE ONE OF THEM, GLAD YOUR CLAIM WAS EVENTUALLY DISREGARDED.

2 0

Treehorse Monday, 10 February 2025 09:27 PM

You should do some research before commenting. Sri Lankan is a full service airline,not some cheaper budget carrier. so the full fees that are paid comes with perks. Even the budget carriers much better than Sri Lankan. Passengers have the right to ask for what they paid for. So you before you reply to this, go and read ICAO rules.

0 1

Lkf Tuesday, 11 February 2025 05:23 PM

There is room for good occupancy rates, if some aircrafts are geared to compete with budget airlines by allocating some aircrafts on budget airline principles.There is a huge market of over 3 million Sri Lankan/Citizens/Decent, needs to be tapped aggressively. International Air regulations favour this traffic. You must explore this with good and defined marketing plans, very strongly without any political influence. Extra purchases and technical support has to go hand in hand in an area where fuel for such is slowly diminishing, tanking up in ME needs consideration.Good quality spoken English has to be a package. Can you handle all that?

0 1

Kevin Sunday, 16 February 2025 05:08 PM

Srilankan airlines sucks all the payee revenue from the govt to survive. Has this guy got rocks in his head

0 0

Suren Edussuriya Friday, 21 February 2025 02:59 PM

Sri Lankan should initially add on lease few A330-900neo's for destinations in Australia, Europe, Japan and Korea. With these new A330's we can add destinations like Brisbane, Adelaide, Perth, Rome, Munich, Johnsburg, etc. Add few A321neo's later for India, southeast Asia and middle east region. After 4-5 years, if we can see an improvement in profitability, we could even add A350-900's and fly to destinations like New York, Montreal, Auckland, Christchurch, etc. This will cater, Sri Lankans, South Asian passengers transiting CMB and tourists from these countries. Considering the Geographical position of Sri Lanka, we can easily make it a transiting hub between Oceania / Southeast Asia and Europe / Africa.

0 0

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