Sri Lanka’s new government has abandoned plans to sell the debt-ridden national airline SriLankan Airlines, but will restructure it for a more profitable future.
“President Anura Kumara Dissanayake has instructed that the airline should be an institution that all Sri Lankans are proud of, and should be owned by Sri Lankans,” the airline’s new chairman Sarath Ganegoda told TTG Asia.
New Sri Lankan president Anura Kumara Dissanayake wants the airline to be proudly owned by Sri Lankans
The previous government had invited bids to part-sell and manage the airline that as been suffering accumulated losses over the years.
While the airline has reported an operating profit for the period April 2022 to end March 2023, its accumulated debt is US$1.2 billion. Under the earlier plan, the government was to retain 51 per cent control of the airline while selling off the remaining 49 per cent to investors. Six parties, some who had no experience in running an airline, responded with an initial call for interest but none was pre-qualified for the next step of the process.
Left-leaning politician Anura Kumara Dissanayake from the National People’ Party won last month’s presidential election. He had vowed to stop the sale of state assets which the former regime was pursuing. Dissanayake swiftly dismantled a government unit tasked with the sale of loss-making state agencies including SriLankan Airlines.
Ganegoda said the airline is an important pillar of tourism and responsible for 50 per cent of the tourist traffic into the country. Sri Lanka aims to reach 2.3 million arrivals this year with a target of three million tourists next year and five million by 2030.
He said while the sale of the airline has been stopped, there are plans to restructure the airline under a viable business model. “Some structuring of our operations is needed to strengthen the balance sheet,” he added.
(ttgasia.com)
(This story, originally published by .ttgasia.com has not been edited by SLM staff)
CEAT OHT Lanka (Pvt) Limited, a wholly owned subsidiary of CEAT Limited, India, has reassured employees that their jobs are secure following the acquisition of the CAMSO brand’s off-highway construction equipment bias tyre and tracks business from Michelin Lanka (Pvt) Ltd.
The holding company, CEAT Ltd. of Mumbai, India, announced in December 2024 that a definitive agreement had been signed for the acquisition. This includes the Midigama plant. the Casting Product Division in Kotugoda and some parts of other divisions providing central services.
To formalize the transition, a tripartite Memorandum of Understanding (MoU) was signed on May 22, 2025, between CEAT OHT Lanka, Michelin Lanka, and the Inter Company Employees Union.
The agreement guarantees 100% job security, preservation of past service, seniority, remuneration, and employee benefits.
However, employees of Michelin Lanka in Midigama, Matara, recently protested claiming that their jobs were at risk due to the sale.
CEAT, operating in over 120 countries, emphasized its commitment to employee welfare and workplace satisfaction, affirming it will honor all obligations under the agreement and actively invest in business growth.
CEAT, listed on the Mumbai Stock Exchange and part of the RPG Group, is a leading manufacturer of tyres for cars, buses, trucks, motorcycles, scooters, and off-highway vehicles.
CEAT had previously acquired Kelani Tyres, a fully state-owned enterprise in 1993, which was considered as a controversial deal facilitated by Ranil Wickremesinghe.
The government has completed all necessary procedures to launch Starlink services in Sri Lanka, says Deputy Minister of Digital Economy Eranga Weeraratne.
According to Deputy Minister Weeraratne, once the expected information dashboard is received from Starlink, the service could be launched without any operational delays.
He made this statement while attending a bilateral meeting organized by the Sri Lankan High Commission in Singapore, held alongside the 2025 Tech Summit Asia in Singapore.
The matter was discussed during a meeting between Deputy Minister of Digital Economy Eranga Weeraratne and Ambassador Stephan Lang, the United States’ Coordinator for International Communications and Information Policy at the U.S. Department of State.
During the meeting, several strategic areas were also discussed.
Ambassador Lang emphasized the importance and urgency of these initiatives, describing them as both challenging and essential for Sri Lanka’s digital future. He reiterated the United States’ continued commitment to supporting Sri Lanka in implementing these transformative digital policies and programs.
(adaderana.lk)
(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)
Sri Lanka’s 02 main domestic gas suppliers, Litro Gas and Laugfs Gas, have confirmed that there will be no price revision for domestic LP gas cylinders this month.
Both companies stated that gas cylinders will continue to be sold at existing prices.
