Government to sell 49 % stake in SriLankan
The Government is to sell a 49 % stake in SriLankan Airlines Catering, Shipping and Aviation Minister Nimal Siripala de Silva said today.
The Minister said that a 51 % majority stake in SriLankan Airlines Catering will be retained by the Government.
The airlines has been suffering major losses over the years and has been a burden on the treasury.
SriLankan Airlines had suffered further losses last year as a result of the coronavirus pandemic.
Globally the airline industry had experienced a decrease in capacity of approximately 60% to 80% last year due to the Covid-19 pandemic with containment measures in place.
In July last year SriLankan Airlines said it experienced a revenue reduction of 70% during the financial year 2020/21 when compared to the year before. (Colombo Gazette)
