Nov 17, 2020

Cabinet approves VRS at Sri Lankan airlines

The Cabinet of Ministers has approved the proposed Voluntary Retirement Scheme (VRS) of Sri Lankan Airlines.

The decision to implement the VRS was due to the financial crisis faced by the company.

A 3-member committee headed by the Secretary to the State Ministry of Aviation and Export Zones Development appointed to study the matter, had recommended implementing the scheme without causing hindrance to company operations for the next three years.

Approximately 560 employees will be retired under the scheme and it is estimated it will cost Rs. 1.46 Billion.

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1500 SriLankan staff to be offered VRS