New cargo airline ‘WEAIR’ to strengthen Sri Lanka’s regional connectivity
Daily FT: WEAIR, a newest competitor into Sri Lanka’s cargo aviation sector, is set to commence operations on 28 May 2026, aiming to strengthen the country’s air freight capacity and enhance regional connectivity.
Sri Lanka’s travel and logistics landscape is poised for a notable shift as WEAIR prepares to take to the skies on 28 May. Entering the country’s expanding cargo aviation sector, the new airline marks a timely boost to air freight capacity at a point when speed, connectivity, and reliability are becoming critical to both tourism and trade.
Backed by Luxembourg-based IOTC – an investment fund, WEAIR is positioning itself as a next-generation, Sri Lanka-based cargo carrier, designed to meet rising demand across key regional trade corridors while establishing Colombo as a strategic Asian hub.
Led by Sri Lankan-born Group CEO Thinesh Ganeshakumaran, who is also Director/Group CEO of IOTC, the airline has ambitions to streamline the movement of goods while reinforcing Sri Lanka’s role as an emerging hub for South Asian air connectivity.
IOTC is one of the European Union›s premier investors in the Asia Pacific region. Its consolidated assets amount to nearly 1 billion Euros with 300 million Euros directly managed by IOTC Investment Luxembourg, a closed-investment fund.
Sri Lanka’s air cargo sector has traditionally depended on passenger belly capacity and foreign operators, often limiting flexibility for exporters and freight forwarders.
Chief Marketing Officer Indrajith Joseph said: “The introduction of a dedicated cargo airline is expected to significantly improve reliability, capacity availability and turnaround times, particularly for time-sensitive shipments such as apparel, perishables, pharmaceuticals and e-commerce goods.”
WEAIR plans to establish a regional network connecting Colombo with major destinations across South Asia, the Middle East and Southeast Asia, leveraging Sri Lanka’s strategic geographic location at the crossroads of global trade routes.
The airline will begin operations with a Boeing 737-800 freighter and has outlined a phased fleet expansion strategy.
Joseph joins as Chief Marketing Officer and Assistant to CCO, contributing extensive expertise in marketing and corporate leadership.
Looking ahead, WEAIR plans for a potential listing on the Colombo Stock Exchange (CSE) by 2029. The company is also exploring expansion into passenger operations as part of its long-term growth strategy. Beyond its operational ambitions, WEAIR is expected to contribute to employment generation across aviation and logistics sectors, including ground handling, cargo operations and related services.
CEO Thinesh Ganeshakumaran stated that the airline is focused on building a reliable and efficient cargo network to support Sri Lanka’s evolving role in global trade.
OSL take:
The entry of WEAIR into Sri Lanka’s cargo aviation sector marks a timely boost to the country’s logistics and trade infrastructure, coming as demand for faster and more reliable air freight continues to grow across South Asia. WEAIR is expected to strengthen air cargo capacity and improve regional connectivity, reinforcing Sri Lanka’s position as an emerging logistics hub.
This development creates a range of business/investment opportunities for foreign businesses/investors. Expanded cargo capacity will support exporters, particularly in time-sensitive sectors such as apparel, seafood, pharmaceuticals, and high-value perishables, by reducing transit times and improving supply chain reliability. It also opens space for growth in airport-based logistics services, including freight forwarding, cold storage, customs brokerage, and express distribution networks. For foreign businesses/investors, the expansion of air freight infrastructure signals broader potential in aviation-linked services such as aircraft maintenance, ground handling, and digital logistics platforms that streamline cargo tracking and operations. The growing integration of Sri Lanka into regional air freight routes also enhances its attractiveness as a transshipment and re-export base for South Asia and beyond. As maritime and aviation sectors develop in parallel, Sri Lanka is steadily positioning itself as a multimodal logistics hub, creating long-term opportunities across trade facilitation, infrastructure investment, and value-added logistics services.
| Article Code : | VBS/AT/20260508Z_4 |