May
08
Loss incurred by Sri Lankan Airlines is Rs.6.49billion – Video

Loss incurred by Sri Lankan Airlines is Rs.6.49billion – Video - Loss incurred by Sri Lankan Airlines is Rs.6.49billion – VideoHiru Gossip, Hiru news, Gossip Lanka News | Hirugossip | Hiru Gossip | Hiru Fm Gossip | Hiru Gossip Official Web Site | Gossip Lanka

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Sri Lankan Airlines has incurred a loss of Rs.6.49 billion last year, according to the report released on finance performance.

It is an increase of Rs.2.9 billion than in the previous years.

Meanwhile, the Texas Pacific Group which had been selected as a strategic party of Sri Lankan Airlines has decided to resign from the relevant investment.

According to the non-audited accounts reports of Sri Lankan Airlines, total operating income for the last financial year was Rs.136.68 billion.

Sri Lankan Airlines remarks that their organization has incurred a net loss of Rs.6.49 billion due to difficult market conditions.

The organization has been negatively affected by the devaluation of the Rupee when compared with the US Dollar, and by the oil prices of Colombo Jet being higher than that of other foreign oil filling stations.

Moreover, during the final quarter of the last financial year, the repairing of Airport Runaway at the BIA has also affected the loss, according to the announcement made by the Sri Lankan Airlines.

More than 600 flight visits have been cancelled during that period.

In the interim, the future status of the Airline could become worse with the Texas Pacific Group Organization resigning from the bond they decided on to have with our Airlines by making Sri Lankan Airlines a semi-governmental body.

Three organizations named, Super Group Partner, Peace Air and Texas Pacific Group had agreed to invest for 49% of shares of the Sri Lankan Airlines before.

Taking their project proposals into consideration, the government decided to proceed with the Texas Pacific Group.

However, speaking to Hiru news team, Deputy Minister Eran Wickramarathne voiced that the Texas Pacific Group has decided to step back as they did not receive the expected benefits from their investment.

Speaking further, he said that the government has happened to directly involve in selecting the strategic partner of the Airlines without failing.

Nevertheless, Deputy Minister opined that strategies which are out of the box are needed to cope up with the current really competitive Airlines Market.
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