Sri Lanka to seek for international partner to bail out national airline carrier

Published on : Wednesday, April 27, 2016

SriLankan Airlines - A330-300A massive debt of 3.25 billion U.S. dollars recorded by Sri Lanka’s state owned national airline carrier has prompted the Sri Lankan government to seek for an international partner or investor.

 
Sri Lanka’s Prime Minister Ranil Wickremesinghe on Tuesday said that his government would seek for an international partner who could manage and invest in the airline.

 
Speaking to reporters in Colombo, the Prime Minister said that Sri Lankan Airlines was a ‘landmine’ for the country’s economy with its high debts.

 
He further said that cabinet approval had also been granted to search for a partner for the national airline carrier.

 
The government has already allocated 201 million U.S. dollars to run the airline up to October and would in the meantime call for proposals to search for an investor.

 

“The airline cannot continue like this and as a government we can only pay part of the debts. If we do not, the airline will collapse and the economy will also collapse. This is not a small figure,” he said.

 
The prime minister further said that he ordered the national carrier to cancel four Airbus aircraft it has already ordered, which he said had still not started manufacture.

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