Wikipedia

SriLankan Airlines

SriLankan Airlinesis theflag carrierofSri Lankaand a member airline of theOneworldairline alliance.It was launched in 1979 as Air Lanka following the termination of operations of the original Sri Lankan flag carrierAir Ceylon.As of April 2024, it is Sri Lanka's main airline by number ofaircraftand destinations. Its hub isBandaranaike International Airport.

SriLankan Airlines
ශ්‍රී ලංකන් ගුවන් සේවය
இலங்கை விமான சேவை
IATA ICAO Call sign
UL ALK SRILANKAN
Founded10 December 1979;44 years ago(1979-12-10)
(asAir Lanka)[1]
HubsBandaranaike International Airport
Frequent-flyer programFlySmiLes
AllianceOneworld
Subsidiaries
Fleet size24[2]
Destinations37
Parent companyMinistry of Ports, Shipping and Aviation
HeadquartersAirline Centre
Bandaranaike International Airport,Katunayake, Sri Lanka[3]
Key people
RevenueIncreaseRs365.171 billion (2023)[2]
Operating incomeIncreaseRs 40.743 billion (2023)[2]
ProfitDecreaseRs−73.621billion (2023)[2]
Total assetsIncreaseRs 199.45 billion (2023)[2]
Total equityIncreaseRs−509.174billion (2023)[2]
EmployeesDecrease5,440 (2023)[2]
Websitewww.srilankan.com

Following its partial acquisition in 1998 byEmirates,it was re-branded and the current livery was introduced. In 2008, the government of Sri Lanka acquired all the shares of the airline from Emirates.[5]After ending theEmiratespartnership, it retained its re-branded name and logo.[6]SriLankan Airlines operates over 560 flights per week across Asia.

SriLankan Airlines joinedOneworldairline alliance on 1 May 2014.[7]

History

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Air Lanka

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An Air LankaBoeing 747-200BatLondon Gatwick Airportin 1984
An Air LankaLockheed L-1011 TriStaratZurich Airportin 1998

In 1979, after the removal of airline manager Nimesh Fernando, Sri Lanka's presidentJayawardeneinitially did not interfere after entrusting the airline to Captain Rakitha Wickramanayake and the board of directors consisting of industry officials and managers. The former Prime Minister of Singapore asked, "How could an airline pilot run an airline?" A 1986 Presidential Commission reported on the mismanagement of the Board of the airline. Under PresidentWijetunga's appointment of a retired General as Chairman/MD with Air Vice Marshals and a UNP attorney as executive directors. None of them knew how to run an airline.[8]

Air Lanka was established as the flag carrier of Sri Lanka once the government shut down the bankruptAir Ceylon.[9]Air Lanka's initial fleet consisted of twoBoeing 707,leased fromSingapore Airlines.OneBoeing 737was leased from Maersk Air and maintained by Air Tara. On 24 April 1980, the lease ended; Air Lanka received a replacementBoeing 737leased fromRoyal Brunei.On 1 November 1980, Air Lanka commenced wide-body operations which were leasedLockheed L1011-1 TristarfromAir Canada.

On 15 April 1982, Air Lanka purchased an L1011 Tristar fromAll Nippon Airways.AnotherL1011was leased fromAir Canadawhilst a third was purchased from All Nippon. With the introduction of Tristar aircraft, the Boeing 707 were phased out. On 1 May 1982,HAECOtook over the maintenance of the two Air Lanka-owned Tristars, whileAir Canadamaintained two leased Tristars.

On 28 March 1980, Air Lanka signed a purchase agreement for two brand newLockheed L1011-500 Tristars,the most advanced wide-body aircraft in the world at that time. The firstLockheed L1011-500(4R-ULA) was accepted on 26 August 1982, atPalmdale,California.It was flown toAmsterdamas UL flight 566P. On 28 August, 4R-ULA "City of Colombo" left for its inaugural flight from Amsterdam to Colombo as UL566. It reached Colombo on 29 August. This was followed by the secondLockheed L1011-500,4R-ULB, "City of Jayawardanapura". On 8 June 1984 the airline received its firstBoeing 747-200B"King Vijaya" and the second joined later. The aircraft were used on flights to Europe and a few flights to southeast Asia. However they were retired in 1987. In 1994, Air Lanka became the Asian Launch Customer of theAirbus A340-300.

Rebranding

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A now-retired SriLankan AirlinesA340-300

Air Lanka, which was state-owned, was partially privatized in 1998, with investment byDubai-basedEmirates Group,when Emirates and the Sri Lankan government signed an agreement for a ten-year strategic partnership. This agreement included exclusive rights for all aircraft ground handling and airline catering at Colombo-Bandaranaike airport for ten years. Emirates bought a 40% stake worth US$70 million (which it later increased to 43.6%) in Air Lanka and sought to refurbish the airline's image and fleet. The government retained a majority stake in the airline but gave full control to Emirates for investment and management decisions. In 1998, Air Lanka re-branded to SriLankan Airlines.[10]

SriLankan acquired 6Airbus A330-200sto complement its fleet ofAirbus A340-300andA320-200aircraft. The A330-200 aircraft joined the airline between October 1999 and July 2000. The company's fourthA340-300arrived at Colombo painted in the airline's new corporate livery. SriLankan upgraded its existingA340fleet into a two-class configuration (business and economy class) whilst overhauling the interior to reflect the new corporate image.

The airline gradually increased its number of destinations with more additions for regional markets, notably India and the Middle East. Whilst continuing expansion in the region, SriLankan commenced flying toJeddah,its third destination in Saudi Arabia, afterRiyadhandDammam,thus increasing the number of destinations in the Middle East to nine.Jeddahbecame the airline's 51st destination overall.

In 2008, Emirates notified the Sri Lankan Government that it would not renew its management contract,[11]which then expired on 31 March 2008. It claimed that the Sri Lankan Government was seeking greater control over the day-to-day management of the airline.[12]Emirates sold its 43.63% stake in the airline back to theGovernment of Sri Lankain a deal that was finalized in 2010, thus ending their partnership.[13]

Modern era

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4R-ALQ SriLankan AirlinesAirbus A330-343departing via Runway 18 atFrankfurt Airportin 2016

In 2008 when Emirates pulled out, the accumulated profit of SriLankan was Rs. 9.288 billion in that financial year. From 2008 to 2015, when the government ran it, the loss for the seven years was Rs. 128.238 billion (US$875 million).[14][15]

Following the ownership transfer, SriLankan began promoting Colombo as a hub for flights to Asia.[16]The first destination of the expansion plan wasShanghai;the route was initiated on 1 July 2010.[17]The airline commenced flights toGuangzhouon 28 January 2011.[18]

A SriLankan AirlinesAirbus A320-214in theOneworldlivery

SriLankan joined theOneworldalliance on 1 May 2014. During 2014 it started to renew and increase its fleet, with purchases of Airbus A330 and A350 models. Currently, SriLankan operates an all-Airbus fleet except for its discontinued Air-Taxi services.[19]SriLankan retired their lastAirbus A340-300on 7 January 2016 with its last scheduled flight fromChennaito Colombo.

The airline terminated three European routes – Frankfurt, Paris and Rome – by the end of 2016. On 2020, the Frankfurt and Paris routes were resumed.[20]

ADHC-6 Twin Otter floatplaneused as part of SriLankan's Air-Taxi service

The airline absorbed the operations of sister carrierMihin Lankain October 2016, in a bid to create a single stronger national airline for Sri Lanka. Accordingly, SriLankan took over two of Mihin Lanka's aircraft and absorbed its route network, adding ten new destinations to SriLankan's route network.

In October 2017, SriLankan launched direct daily non-stop flights toMelbourne,Australia, its first new long-haul route in over five years and the most ambitious expansion to date. The flights restore a regular direct air link between Australia and Sri Lanka after a hiatus of sixteen years.[21]This route has proved particularly popular and has been responsible with increased numbers of Australian tourists holidaying in Sri Lanka.[22]

During the COVID-19 pandemic, SriLankan performed cargo and operating relief flights. On 1 February 2020 it operated a relief flight out ofWuhan,China.[23]

SriLankan lost 36.3 billion rupees up to August 2020 and the government approved a voluntary retirement package for 560 employees at a cost of 1.46 billion rupees.[24]

From May 2022, due to the ongoingeconomic crisis in Sri Lankawhich resulted in the country facing a fuel shortage, SriLankan's long-haul flights had to make stopovers atTrivandrum,ChennaiandKochiin India to refuel.[25][26][27][28]

For the financial year 2022–2023, SriLankan Airlines achieved a break-even for the first time in over a decade and posted a net profit of $3 million.[29]

SriLankan Airlines won the 2024 IFSA Best Inflight Food or Beverage Innovation Award at the APEX (Airline Passenger Experience Association) and IFSA (International Flight Services Association) Global Expo October 2023.[30]

Corporate affairs

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The key trends of Sri Lankan Airlines (mainline) are as at the financial year ending 31 March:[31]

Turnover
(Rs bn) 		Net profit
(Rs bn) 		Number of
employees 		Number of
passengers
(m) 		Passenger
load factor
(%) 		Number of
aircraft 		Sources
2019 180 −44.0 6,794 5.6 82.9 27 [32]
2020 180 −47.1 6,693 5.2 80.6 25 [33]
2021 50.6 −45.2 5,965 0.16 19.6 24 [34]
2022 132 −166 5,833 1.4 48.9 24 [35]
2023 365 −73.6 5,440 3.4 77.6 23 [36]
2024 333 3.8 5,935 3.6 79.0 21 [37]

Headquarters

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The company's head office is at Airline Centre,Bandaranaike International Airport,Katunayake.[3]

Livery

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The Air Lanka logo (1979–1998)

The initial livery consisted of red stripes on a white fuselage. The tail was solid red and sported the corporate logo, a stylisedvimanalocally known as "Dandu Monara" (Flying Peacock Aircraft) of King Ravana of ancient "Lanka",Ravana,[38]as per the famous "Ramayana" mythology. The five "tail feathers" represent the "Five Precepts" (Pancha Seela) of Buddhism and the three "crown feathers" represent the "Triple Gem" (Buddha, Dhamma, Sangha) of Buddhism. Red reflects the predominant colour in the Sri Lankan national flag, which represents the majority race in the country, the Sinhalese. This was the sole livery of the airline for nearly two decades, from January 1979 to October 1998.

After Air Lanka began a decade-long partnership with Emirates, the name was changed to SriLankan Airlines; the livery was changed into a much simpler one, with an all-white fuselage, covered by blue 'SriLankan' titles, and the tail adorned with the new corporate logo.

In May 2014, anAirbus A330and anAirbus A320in specialoneworldlivery was delivered to commemorate the airline's establishment as aoneworldmember. Newly delivered aircraft are adorned with a redesigned livery accompanying a blue underbelly slogan promoting Sri Lanka as a tourist destination.

Subsidiaries

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SriLankan Catering is a wholly-owned subsidiary of SriLankan Airlines, providing flight catering services to all airlines serving theBandaranaike International Airport.

Its other businesses include provision of aircraft maintenance and overhaul services,[39]ground handling services,[40]packaged holiday products,[41]aviation training[42]and IT services.

Destinations

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As of September 2024 SriLankan itself flies to 37 destinations and 21 countries.[43]Including code-shares with other airlines, it provides services to a total of 114 destinations in 62 countries.[44]Its interline partnerships and membership inOneworldalliance allow it to offer passengers connectivity to over 1,000 cities in 160 countries.

SriLankan currently[when?]operates to 14 destinations in India, more than any other foreign airline. It is also the largest foreign airline in the Maldives, serving two cities.

Alliance

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On 11 June 2012, SriLankan Airlines was announced asOneworld's latest member-elect, on the sidelines of the IATA World Air Transport Summit in Beijing.Cathay Pacificserved as SriLankan Airlines' sponsor through its alliance implementation program. Membership implementation lasted approximately 18 months.[45]SriLankan Airlines joined the airline alliance on 1 May 2014 as the first carrier from the Indian subcontinent.[7]

Codeshare agreements

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SriLankan Airlinescodeshareswith the following airlines:[46][47]

Interline agreements

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SriLankan Airlines haveinterline agreementswith the following airlines:

  • Virgin Australia[55]

    • Fleet

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    Current fleet

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    As of March 2024,SriLankan Airlines operates an all-Airbusfleet composed of the following aircraft:[56]

    SriLankan Airlines fleet
    Aircraft In service Orders Passengers Notes
    B E Total
    Airbus A320-200 7 — 16 120 136
    12 138 150
    150 162
    Airbus A320neo 2 — 12 138 150
    Airbus A321neo 4 — 12 176 188
    Airbus A330-200 2 — 18 251 269
    252 270
    Airbus A330-300 7 — 28 269 297
    Total 22 —

    Fleet development

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    The airline received its firstAirbusaircraft in 1992; theAirbus A320-200began flying to destinations in theMaldives,Pakistan,and southern India. TheAirbus A340-300was delivered in 1994. The airline was the first in Asia to use the A340. TheAirbus A330-200aircraft were delivered later.[citation needed]

    In 2012, SriLankan Airlines aimed to boost its fleet to 35 aircraft over the next five years and had talks with both Airbus and Boeing regarding a deal.[57]SriLankan's former CEO Kapila Chandrasena stated that the carrier wanted to add eitherAirbus A330-300,Boeing 787-8orBoeing 777-300ERaircraft to its fleet to replace its Airbus A340-300s, with deliveries beginning in 2013–2014.[58]

    In April 2013, it was announced that SriLankan Airlines had won government approval to acquire fourAirbus A350-900and seven A330-300 aircraft, with deliveries of the A330-300 starting from October 2014.[59]Deliveries for the ordered A350-900s are set to commence in 2019. A further three Airbus A350-900s were leased, with deliveries of these aircraft starting in 2017.[59]

    SriLankan retired its lastAirbus A340-300on 7 January 2016, replaced by theA330-300and the future A350-900.[60]As of January 2016, construction of the airline's firstAirbus A350-900started.[61]On 23 February 2015, SriLankan Airlines finalized a deal withAir Lease CorporationandAerCapto acquire twoAirbus A321neoaircraft, one from each leasing firm.[62]

    On 10 May 2016, due to financial difficulties, the airline announced it would cancel its order of eight A350 aircraft. As of December 2019, the four aircraft of Airbus A350-900 remained in the Airbus monthly order book and had yet to be cancelled or converted to A330-900 orders.[63]

    In April 2021 SriLankan announced its plans to retire 6-7 aircraft from its fleet. To replace the retiring aircraft, SriLankan have planned A350 and A330neo aircraft.[citation needed]After government approvals, SriLankan requested proposals for a six-year dry lease for five narrow-body aircraft and wet lease wide-body aircraft in late 2023. As per the RFPs, SriLankan received one A320 aircraft on 21 December 2023.[64]

    Aircraft naming

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    4R-ABM, anA320-214named after the City ofAnuradhapura

    The airline names some of its aircraft after historically significant towns and cities in Sri Lanka, with aircraft named afterAnuradapura,Yalpanam,Yapahuwa,Sri Jayawardenapura,and others.[citation needed]

    Historic fleet

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    SriLankan also formerly operated the following aircraft:[citation needed]

    SriLankan Airlines former fleet
    Aircraft Fleet Introduced Retired Notes
    Airbus A300B4 1 2000 2000
    Airbus A320-200/A321-200 14 1992 2023 4R-ABA was destroyed in 2001 in theBandaranaike Airport attack.
    Airbus A330-200 6 2000 2024 4R-ALE and 4R-ALF were destroyed in 2001 in theBandaranaike Airport attack.
    Airbus A340-300 7 1994 2016 First Asian airline to operate Airbus A340 quad-jet, 4R-ADD was destroyed in 2001 in theBandaranaike Airport attack.
    Boeing 707-320 3 1979 1983
    Boeing 737-200 6 1980 1995
    Boeing 737-300 1 1992 1992
    Boeing 747-200 2 1984 1987
    Boeing 767-300ER 1 2010 2010
    Lockheed L-1011 TriStar 18 1980 2000
    1 1986 UL 512was destroyed during the firstLTTEattack onBandaranaike International Airport.

    Services

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    Cabin

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    A330-200 Business Class cabin
    Flagship A330-300 Business Class cabin

    SriLankan offers two classes of service, Business Class and Economy Class. In Business Class, SriLankan offers full flat-bed seats on all of its long haul fleet with Audio Video on Demand (AVOD) facilities. The fully flat bed seat offers a 19.5 inches wide seat that can be reclined into a 180-degree 79 inches long bed. Each seat has a 15-inch personal IFE system. SriLankan's newest fleet additions will featureThalesAvant IFE, which features modern entertainment features and extended business class seats. ItsA330-300fleet presents an all-aisle access seating in a 1-2-1 arrangement on Business Class.[65]On its A320 and A321 fleet, Business class is configured in a 2-2 layout, offering extra reclining seats, each seat with a width of 19 inches and a pitch between 39 and 49 inches.[66]

    SriLankan provides in-seat entertainment in Economy class on all its wide-bodied aircraft and the vast majority of narrow-body aircraft. On its A330-300 and A320/A321neo aircraft, all cabin classes are provided with the option of paid-for in-flight internet access and mobile telephony services.

    Entertainment

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    In-flight entertainment in Business class on Sri Lankan Airlines A330-300 fleet

    SriLankan Airlines offer AVOD inflight entertainment on its aircraft.[67]The A320, A321 & A330-200 equipped with the RAVE ZODAIC Inflight Entertainment.[68]The new A330-300 have the latest Thales AVANT Inflight Programme.[69]SriLankan offers onboard WiFi connectivity with new Airbus A330-300 and A320/A321neo fleets in partnership with OnAir.[70]SriLankan is South Asia's first airline to have on-board WiFi capability.[71]

    Catering

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    SriLankan Catering depot at Bandaranaike International

    SriLankan Catering Limited is the sole airline caterer in Sri Lanka. Its hub is atBandaranaike International Airport(BIA).[72]SriLankan Catering's main line of business is in-flight catering to airlines that operate toBandaranaike International Airport.[73]Its state-of-the-art flight kitchen atBIAhas a capacity of 25,000 meals per day.[74]Incorporated in 1979, as Air Lanka Catering Services Limited with BOI status, SriLankan Catering commenced business as a joint venture with Thai Airways International. In 1998 when the joint venture agreement with Thai Airways International lapsed Air Lanka Limited bought the shares of the joint venture partner and thus Air Lanka Catering Services became the fully owned subsidiary of SriLankan Airlines Limited. Thereafter the Company changed its name to SriLankan Catering (Private) Limited in September 2000.[75]

    Frequent flyer programme

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    SriLankan's firstfrequent-flyer programmewas calledSerendib Milesand was abandoned in early 2000. It then became a partner of Emirates'Skywardsfrequent-flyer program. However, this agreement ceased to exist when the partnership between the two airlines concluded on 31 March 2008.[76]SriLankan subsequently launchedFlySmiLes,which has since added a variety of new reward partners to its program.[77][78] New membership tiers were added after the airline's enrollment to theoneworldalliance to accommodate Oneworld membership tiers, gaining better privileges for members when aboard all Oneworld airlines.

    There are a total of four membership tiers as of May 2014.They are:

    • FlySmiLes Blue: Base tier
    • FlySmiLes Classic: Oneworld Ruby
    • FlySmiLes Gold: Oneworld Sapphire
    • FlySmiLes Platinum: Oneworld Emerald

    FlySmiles partners include all Oneworld airlines,Cinnamon AirandEtihad Airwaysand non-airlines partners like Abans and Spa Ceylon.

    Accidents and incidents

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    Five of the six aircraft that have been destroyed, and all of the reported deaths of SriLankan Airlines passengers and employees, have been a result of the civil conflict in Sri Lanka.

    1980s

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    Main article:Air Lanka Flight UL512

    On 3 May 1986,a bomb planted by the terrorist groupLTTEexploded on board Flight UL512 beforetakeoffatBandaranaike International Airport.The bomb, which had been timed to explode in-flight, went off while theLockheed L-1011 'Tristar'aircraft was on the ground, killing 21 of 128 passengers. Officials believe the bomb may have been concealed in crates of meat and vegetables that were being freighted to theMaldives.Other reports believe that the bomb was hidden in the aircraft's 'Fly Away Kit'.

    1990s

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    In 1992, the right landing gear of an Air LankaBoeing 737-200(registration 4R-ULL) at Madras airport (nowChennai International Airport) failed upon landing and the right engine came into contact with the runway. The aircraft pulled to the right and finally came to a stop, with the nose wheel and right wing on the grass to the right of the landing runway. The right engine caught fire – extinguished by the airport safety services – and the 104 passengers and 12 crew evacuated the aircraft via the chutes on the left side without injury. The damage to the aircraft was substantial; the plane was subsequently repaired and sold.[79]The Indian Directorate General of Civil Aviation concluded that "the accident occurred as a result of a failure of the right-hand main landing gear beam during the landing due to pre-existing stress corrosion cracks and pits at its inboard lug hole and higher than normal landing loads contributed to its failure".[80]

    2000s

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    Main article:Bandaranaike Airport attack

    On 24 July 2001,a pre-dawnLTTEraid on theSri Lanka Air Forcehangar alongBandaranaike International Airportleft at least 19 people dead, including all 14LTTEcadres, two army commandos and three air force personnel. Two of SriLankan Airlines'Airbus A330planes (4R-ALE and 4R-ALF), oneA320(4R-ABA) and one of theirA340planes (4R-ADD) were destroyed. Two other aircraft were damaged (A340 4R-ADC and A320 4R-ABB). A number of military aircraft were also damaged and destroyed.[81][82]

    Financial fallout

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    SriLankan Airline financial performance

    SriLankan Airlines has not made a profit since 2008; the year it was re-nationalised. In 1998, Emirates won a proposal to handle the nation's flag airline, Air Lanka. Following that, Emirates rebranded the aging carrier as SriLankan and modernized its fleet with contemporary Airbus A330 aircraft. Emirates obtained ten years of management rights as part of the equity purchase. It later sold its ownership in the carrier for US$53 million, resulting in a nearly US$20 million loss.[83]

    Sri Lanka currently has nobankruptcyprotection act, and the only option for a closedown would be a completeliquidation.If the Government liquidates the airline, it will be compelled to write off this debt to the state banks and the Ceylon Petroleum Corporation. This could raise significant concerns about the two-state banks' liquidity by foreign rating agencies and could seriously jeopardise the prospects of Sri Lanka's entire banking sector. The Government as the guarantor would also be called upon for immediate repayment of the international bond worth US$175 million.[84]

    Were this to occur, aircraft rent payments would no longer be made, the risk premium for airlines leasing aircraft in Sri Lanka would increase, making the country an unappealing base for a carrier. However, this would be good news for Airbus, which currently faces a more than US$1 billion claim for the airline over the A330 and A350 transactions for 2013.[85]

    In 2016 and 2017, SriLankan's losses were impacted by costs related to the cancellation of its Airbus A350 lease agreements. If the majority of the fleet were all due for heavy maintenance in later years, this could imply a significant charge of LKR 3 billion per annum for the prior years if restated. Such a change would make a further dent in the profits recorded during the Emirates era, as the maintenance cost was legitimately understated.[86]

    SriLankan subsidiary Mihin Lanka never recorded an annual profit since its inception in 2007 and had an accumulated loss of LKR17.27 billion in 2016. For the 6-month period there was a loss of LKR 181 million and the remainder of the financial year it was budgeted to lose a further LKR billion. A few months after Mihin Lanka shut down, losses exceed LKR 13 billion. Most of the company's assets were acquired by SriLankan Airline on 29 October 2016.[87]

    In 2020, SriLankan Airlines lost a little over US$200 million. In this period airline debt obligations today exceeded US$900 million (LKR 372 billion). The bulk of these appear to be debts to state banks and theCPC,both wholly owned by the Government of Sri Lanka. The airline also has at least one, sovereign guaranteed, internationally issued bond worth US$175 million.[88]

    According to the Finance Ministry data, SriLankan lost LKR 24.5 billion from April to July 2021, as the company, which was already losing money, encountered further difficulties during theSARS-CoV 2 outbreak.In the fiscal year ending March 2021, SriLankan lost LKR 58 billion.[89]

    Controversies

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    In March 2015, a report was released following a Board of Inquiry investigation into corruption at SriLankan during the time it was under the chairmanship of Nishantha Wickramasinghe. The Board has reported that corruption was widespread and confirmed the allegations of Nishantha Wickramasinghe's affairs.[90]However, the Mahinda Rajapaksa Information Centre denied the allegations and accused the report of being biased and invalid, accusing the head of the committee of publicly supporting the current government in the elections and lacking technical knowledge about the aviation industry. It further claimed that he had been bribed to submit such a report as a publicity stunt to humiliate the previous government and that most of the points within it were untrue.[91]The airline's short-lived Air-Taxi service and its mismanagement was found to have caused the loss of millions of dollars to the airline.[91]

    In October 2015, the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) attempted to summon Wickramasinghe to inquire about various irregularities in the airline; however, they were unable to locate him, and his wife claimed he had not come home for three years and that she was unaware of his whereabouts. Later he notified PRECIFAC that he was abroad and was unable to give a statement.[92][93]

    On 14 April 2021, SriLankan Airlines claimed on Twitter that it had made history by operating three successive cargocharter flightstoEntebbe International Airport,Uganda, transporting over 102 tonnes of “printed papers” in February 2021.[94]The nature of the “printed papers” was not immediately revealed. The tweet was later deleted, creating doubts about the transparency of SriLankan Airlines.[95]The airline later issued a statement clarifying that the printed material was Ugandan currency which theUgandan governmentpreferred to obtain printed from a global security printer.[96][97]TheBiyagamabranch of theDe La Ruecompany is responsible for printing currency notes to countries including Uganda.[98]SriLankan insisted that theconsignmentwas purely commercial in nature and brought much needed foreign revenue to the airline.[99]

    SriLankan Airlines decided to sue Airbus for $1 billion as damages, loss of reputation, reimbursement of costs, and interests. The action follows the information revealed in the judgment of the Crown Court of the United Kingdom approving the Deferred Prosecution Agreement between the Serious Fraud Office and Airbus SE. The national carrier has also demanded Airbus for cancellation of the A350-900 Purchase Agreement for four A350-900 aircraft, returning the advance payment of $19 million made for those four A350-900 aircraft.[citation needed]

    Potential privatisation

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    Following the economic crisis of 2022, the Sri Lankan government has been exploring approaches toprivatisingseveral state-owned companies including SriLankan Airlines. In 2023, the Sri Lankan government set up the 'State-Owned Enterprise Restructuring Unit' (SRU) under the Ministry of Finance to assist in the privatisation of state-owned companies such as SriLankan Airlines.[100]

    An entity linked to AirAsia is among six entities accepted by Sri Lanka's State-Owned Enterprises Restructuring Unit (SRU) to bid for Sri Lankan Airlines. The government, which owns 99.52% of the airline, is selling a majority stake. The other entities include FitsAir, Dharshaan Elite Investment Holding Ltd., Sherisha Technologies Ltd., Hayleys PLC, and Treasure Republic Guardians Ltd.

    AirAsia Consulting Sdn. Bhd., the consulting arm ofAirAsia,is the only one with ties to a major airline.FitsAiris a Sri Lankan low-cost carrier, whileHayleys PLCis an established conglomerate.

    The SRU will evaluate theRfQsbased on specific guidelines, and participation doesn't guarantee bidding rights. The government will take on LKR100 billion rupees (US$332.6 million) of Sri Lankan Airlines' debt, while a US$175 million international bond remains the airline's responsibility. The government may also receive proceeds from an arbitration case against Airbus.

    The NPP- led current government has abandoned plans for privatisation as of September 2024.[101]

    See also

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    References

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    1. ^Thiedeman, Roger (7 December 1997)."A foundation in the sky".The Sunday Times.Retrieved11 May2018.
    2. ^abcdefg"SriLankan Airlines Annual Report 2022-23"(PDF).SriLankan Airlines.Retrieved6 December2023.
    3. ^ab"Contact Us- Contact SriLankan Airlines".srilankan.com.Retrieved16 April2018.Head Office SriLankan Airlines Ltd., Airline Centre, Bandaranaike International Airport, Katunayake, Sri Lanka.
    4. ^"Sarath Ganegoda new Chairman at SriLankan Airlines".Daily FT. 10 October 2024.Retrieved10 October2024.
    5. ^Ionides, Nicholas (22 January 2008)."Emirates walking away from SriLankan".Flightglobal.com.Retrieved15 April2019.
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    8. ^"SriLankan Airlines: A Tale Of State Abuse & Mismanagement".Colombo Telegraph.9 April 2016.Retrieved28 December2021.
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    10. ^"World Airline Directory."Flight International.14–20 March 1990"Airlift International" 57.
    11. ^"Emirates walking away from SriLankan".Reed Business Information.Retrieved24 April2015.
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