Government to sell 49 % stake in SriLankan

(LANKAPUVATH | COLOMBO) – The Government is to sell a 49 % stake in SriLankan Airlines, Shipping and Aviation Minister Nimal Siripala de Silva said today.

The Minister said that a 51 % majority stake in the national airline 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.

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