Jul 16, 2020

Sri Lankan Airlines to lose Rs. 34b in 2020 Featured

State-run Sri Lankan Airlines (SLA) has lost 48.7 million US dollars (about 9 billion rupees) in April and May 2020 and is expected to lose 185 million US dollars (34.4 billion rupees) in the year to March 2021 as the state-run carrier is hit by a Coronavirus pandemic, the Finance Ministry said.

“The financial situation of SLA was unhealthy even before COVID-19,” the Finance Ministry said.

“Accordingly, SLA management was expected to reduce SLA operational costs including lease payment renegotiation,…collective agreement renegotiations to remove unfavourable conditions such as reduction of the number of crew members in a flight, right-sizing the workforce by introducing a voluntary retirement scheme (VRS)…”

Sri Lankan Airlines lost 44.02 billion rupees in 2019, according to Finance Ministry data.

(economynext.com)Sri Lankan Airlines to lose Rs. 34b in 2020

(Except for the headline, this story, originally published by economynext.com has not been edited by SLM staff)