Sri Lanka announces sale of part of national carrier due to crisis

The government of Sri Lanka announced Monday that it will privatize two subsidiaries of the country’s national airline, SriLankan Airlines, as part of the measures to stabilize the country’s battered economy.

“The loss is borne by the government. The loss made by the Sri Lankan Airlines during this time (since 2010) is Rs 401 billion (around $5.02 billion),” Ports, Shipping and Aviation Minister Nimal Siripala de Silva said at a press conference in Colombo.

“Our challenge is how to maintain the airlines. It is hard to maintain the airlines with this kind of large loss. Therefore, the government has decided that this restructure is vital,” he added.


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