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SriLankan Airlines is in a rough financial spot. The government owned airline needs to be privatized, and the deadline for that happening is March 5, 2024. Now one of the country’s ministers has stated that any interest that existed in privatizing the airline has been withdrawn.
Browse the latest airline news right here. SriLankan Airlines has been making headlines in aviation news with new technology & innovations ever since its inception.
By the start of January 2024‚ SriLankan expects another three aircraft to be flying with the addition of a wet leased A330 and the arrival of two more engines. The airline will also be taking another sister aircraft to 4R – ABS that is scheduled to arrive in March 2024.
Sri Lanka’s flag carrier, SriLankan Airlines, is responding to recent allegations of poor working conditions, long flight delays, and cancellations. The Airline Pilot’s Guild of Sri Lanka (ALPGSL) slammed the carrier’s management team on Sunday, calling on them to address the concerns.
The Sri Lankan government, as they were reeling from an unprecedented financial crisis, had their moment of clarity and decided to privatize the airline. The plan was to issue a request for proposals in February 2024 and ultimately make the sale by June 2024.
SriLankan Airlines expects passenger traffic in the upcoming year-end travel season to surpass pre-pandemic levels, amid a boom in tourism a year after the country plunged into economic turmoil.
SriLankan’s 7% government-guaranteed bond defaulted on December 25, 2022, following a coupon non-payment. The airline was given a 30-day grace period, though the window passed with SriLankan failing to rectify the outstanding amount.