Sri Lanka’s national carrier SriLankan Airlines seeks strategic partner to move forward after restructuring
The Finance Ministry of Sri Lanka has stated that the national carrier, SriLankan Airline is to seek a strategic partner under a new chairman and board, while the airline faces a re-structuring process under a plan devised by Nyras, an aviation consultancy.
Ranjit Fernando, former Chief of National Development Bank was appointed by the government of Sri Lanka as chairman of the airline.
The other directors of the board are Mano Tittawella (Ministry of Finance), Roshan Perera (Central Bank of Sri Lanka), Air Marshal Kapila Jayampathi (Air Force Commander) and Susantha Katugampala (Lawyer/Barrister).
According to media reports, a committee of officials chaired by the Treasury Secretary including Chairman of the National Agency for Public Private Partnership (NAPPP) Thilan Wijesinghe and the Secretary of the Ministry of Public Enterprises will carry out a restructuring of the airline and a search for a strategic partner.
The process is to be guided a by ministerial committee chaired by Prime Minister Ranil Wickremesinghe.
Nyras, a UK based aviation consultancy was hired in 2017 by the government of Sri Lanka and will work under the officials committee. According to the Finance Ministry, Nyras has presented a business plan to make the airline viable in the medium term.
OSL take:
The search for a strategic partner by Sri Lanka’s national carrier has opened an investment/business opportunity for an interested foreign aviation company. Given the Sri Lankan government’s commitment to restructure the airline, it would be an opportune moment for an interested business entity to consider a partnership with the country’s national carrier.
| Article Code : | VBS/AT/06042018/Z_2 |