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Last Updated : 2024-04-29 09:40:00
8 September 2023 01:41 pm - 35 - {{hitsCtrl.values.hits}}
The Sri Lankan government is actively exploring options for the privatisation of SriLankan Airlines (UL, Colombo International) and is engaging in talks with various private entities and airlines, according to a report by ch-aviation. Among the potential investors are well-known names such as Emirates (EK, Dubai International), Tata Sons, and the Adani Group.
Veeraperumal Ravindran, the carrier's regional manager for India, Bangladesh, and Nepal, revealed this information during an interview with The New Indian Express, aimed at increasing the airline's presence in the Indian state of Kerala.
SriLankan Airlines plans to enhance its services between Colombo and Thiruvananthapuram during the upcoming winter schedules, increasing from six times to seven times weekly. Additionally, it intends to maintain its 10 times weekly frequencies to Kochi International and explore new flight routes to Kozhikode due to available aircraft. According to the report, Ravindran noted a significant increase in traffic from India to Sri Lanka in the past seven months, signalling a positive trend for the airline, as Sri Lanka's situation gradually returns to normalcy. However, Ravindran provided no further details about the ongoing privatisation discussions.
Tata Sons, the parent company of Air India, Air India Express, Vistara, and AirAsia India, has long been considered a potential investor in Sri Lanka's state-owned carrier. In contrast, the involvement of the Adani Group is a recent development. Group chairman Gautam Adani held discussions with Sri Lankan President Ranil Wickremesinghe during the president's two-day visit to India in July, focusing on multiple projects within Sri Lanka. While the meeting encompassed various initiatives, there was no mention of the airline at the time.
Emirates' history with SriLankan Airlines dates back to 1998 when it acquired a 43.63 per cent stake in the carrier, along with a ten-year management concession. However, a falling out between Emirates-installed executives and the Sri Lankan government led to Emirates choosing not to renew its contract in 2008. The airline subsequently divested its shares to Colombo in 2010, and efforts to find a strategic investor since then have been unsuccessful.
Sri Lanka's commitment to privatise loss-making SriLankan Airlines, as pledged by then-Prime Minister Wickremesinghe in May 2022, aimed to shift the burden of restructuring the airline, including addressing its high legacy debt servicing costs, to private investors instead of relying on state finances, as stated by the report. The initial focus will be on restructuring the carrier's balance sheet with the subsequent sale of the airline. In early July, Sri Lanka's civil aviation minister, Nimal Siripala, emphasised the completion of the airline's restructuring within six months.
S. P. Ramkumar Friday, 08 September 2023 02:02 PM
Emirates is the best manager.
Ranil the curse of SriLanka Friday, 08 September 2023 02:02 PM
SOLD, SOLD, SOLD .....shouted the nincompoop president.
Tissa Fernando Friday, 08 September 2023 02:27 PM
The way things are moving Adani will get it at the lowest price.
Cugan Friday, 08 September 2023 02:48 PM
Good news but the logo should intact.but keel the ground handling catering engineering etc they are the one making money.
DD Friday, 08 September 2023 02:50 PM
Choosing Emirates seems like the wiser choice. Back in Peter Hill's time, they launched with brand new aircrafts and that's what set them apart. Today, we're still carrying the same symbol they chose during their rebranding. When it comes to this subject, India and Ambani may not have the required knowledge or expertise, and Air India's operations will likely demonstrate that.
Nav Friday, 08 September 2023 03:11 PM
Tata
This is reality Friday, 08 September 2023 03:39 PM
Your guess is as good as mine as to who will receive the nod.
Ama Friday, 08 September 2023 03:40 PM
Please go for Emirates. Dirty Rajapakshas, do not spoil.
Siripala Friday, 08 September 2023 04:02 PM
These three Parties in the scene may be aware that the one who offers the biggest unofficial C. Will get it !
sam Friday, 08 September 2023 04:42 PM
Nimal will decide on who gives the best gift.
Nimal Friday, 08 September 2023 05:07 PM
GO FOR EMIRATES
Massdeen Friday, 08 September 2023 05:35 PM
Emirates the best choice they have wide experience, the others all corrupt bidders please avoid asking for commission
Riyazi Friday, 08 September 2023 06:11 PM
Give the management control to Emirates for 10 years...
Mk Friday, 08 September 2023 06:18 PM
ANY OFFER HAND OVER TO EMIRATES. OUR YOUNGER GENERATIONS FUTURE WILL BE OK. IF YOU HAND OVER TO ADANI AND TATA POLITICIANS FUTURE OK.
Nuwan Friday, 08 September 2023 06:21 PM
Emirates comes with experience and the backing of a large enough enterprise. Also all buyers must be guaranteed property rights that a future idiot will not be able to nationalise it again. Not another Argentina please.
Fathima Lai Friday, 08 September 2023 06:38 PM
Giving it to Emirates will boost SL's reputation. All of them are trying to invest and make it profitable. But who can add value and recognition is crucial.
Terrence K Friday, 08 September 2023 07:01 PM
Emirates should be the choice in managing the Sri Lankan Airlines since from its past history it has ensured that the airline is a profitable entity. Also let no ruling politicians interfere in any type in operating this airline and no special concessions to the Rajapkse Regime
Illegitimate Administration Friday, 08 September 2023 07:08 PM
Emirates, once bitten twice shy. Any one investing in this have to consider the corrupt infrastructure in the airline and the country as a whole.
Common Sense Friday, 08 September 2023 07:53 PM
Restore the name to Air Ceylon again (or Ceylon Airlines). Run a joint venture with either Emirates, or Singapore Airlines (if they are interested to come back). Under no circumstances should any of the Indian companies be involved, LET ALONE thug Adani. It would be better to shut the whole enterprise down than give it to the wretched Indians. No competent Competition Regulator would allow Tata to buy it. That would give Tata virtually 100% control of the market share of flights between this country and India.
CitizenP Friday, 08 September 2023 08:05 PM
Emirates coming back to the scene is very very remote as long as Rajapkshas are there.
Ganesh Friday, 08 September 2023 09:15 PM
Tata would be out of the race, cos they don’t bribe people.
Zaza Friday, 08 September 2023 09:36 PM
Emirate is the best choice. But what comes to personal pocket matters more.
Native Friday, 08 September 2023 10:16 PM
TATA the best choice for SL.
Rubu Fernando Friday, 08 September 2023 11:25 PM
Emirates by far is a proven suitor who steered the UL to profitability until the idiot uncouth Mahinda thought it was his private airline and wanted his way with UL which by then was NOT a fully owned state entity. "Selling" to Adani is a NO NO. They have no aviation expertise but capable of bribing in the millions to people like Sirpala De Silva. Air India is a vested party operating in the same geography as UL. Interests of UL shall be subject to the profit dictates of Air Indian and in turn Tata.
Kevin Saturday, 09 September 2023 02:16 AM
Privatisation is good but sell it to srilankans instead of Foreigner's.
Punchi Saturday, 09 September 2023 03:28 AM
Hard to understand why China based airlines are not interested in our lanka airlines . China has a port cum naval presence in our sovereign country, they should not let an opportunity to establish an airport cum airbase with airforce personnel masquerading as ground and maintenance crew in our sovereign country
Sira Saturday, 09 September 2023 04:18 AM
Sell it asap please. This is a money eating devil. But also get the money back from Kapila Chandrasena' account.
Eper Saturday, 09 September 2023 04:22 AM
Follow the principles of Air Ceylon and the Airline will prosper
dana Saturday, 09 September 2023 06:06 AM
Who is ready to give better commission?
Nimal Saturday, 09 September 2023 06:54 AM
I'm surprised that Emirates is interested again considering the way they were ill treated by the Rajapaksa administration.
Jude Saturday, 09 September 2023 07:30 AM
Whoever pay the biggest BRIBE will get it!! Yeah.
Jude Saturday, 09 September 2023 07:34 AM
Give away the SriLankan airline fleet for cheap or Free,!! Yeah it'll save billions or maybe in TRILLION RUPEES for Treasury!!
ivar18 Sunday, 10 September 2023 03:03 AM
While Emirates may be a good choice, do not under estimate the TATAs. They are known for good clean management. Air India under them was a World Class airline. When the Government nationalised it, the rot started. Corruption, Neopotism started. Politicans used it as their `private taxi' Any investor worth his salt will have to consider the massive debt, crude political interference and Srilanka's proven reputation of not honoring it's signed International agreements. The Middle Eastern carriers (inc UL) hv been taking market share from India and other countries. They do NOT have a large home market base. Most of their passengers are transiting onwards to other onward points. All this will change soon. India has a Huge Market base. TATAs are now working on revitalising Air India. The massive investment in Management, IT, Training, Improvement in the food menu, the Refurbishment of existing aircraft, purchase of new aircraft, enchanced training, etc will offer a whole new experience.
Airline Pilot Monday, 11 September 2023 06:51 AM
Very soon india's Tata Group the current owners of Air India with more than 400 planes will dominate the skies of India if not the world soon and with the added bonus of hi-tech modern airports in Chenai, Mumbai, New Delhi and Bengaluru Sri Lankans can fly in comfort with the new owners of Sri Lankan Airlines the giant TATA Group of India.
ANNECUNT Saturday, 16 September 2023 06:53 PM
Nimal siripala is the sri-lankas bribe king
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