BIZ

SriLankan Airlines to be given to India’s TATA?

Published

2 years ago

May 9, 2023

editor

The heads of the government are discussing the possibility of transferring SriLankan Airlines, which has recorded a net profit of USD 3 million in the financial year 2022-23, to India’s ‘TATA Company’.

TATA, one of India’s largest business groups, already operates several airlines including Air India.

The government said that SriLankan Airlines is at the forefront of loss-making companies in Sri Lanka, and therefore it should be restructured.

Meanwhile, Aviation Voice has reported that SriLankan made a net profit of USD 3 million in the 2022-23 financial year for the first time after Emirates exited from management in 2008.

During a Committee on Public Enterprises (COPE) meeting held recently, the Srilankan Airlines said that it has earned USD 104 million as operating profit. As a result, it has earned a net profit of USD 3 million once the interest expenses of USD 101 million are excluded.

However, the airline recorded a loss of Rs.69 billion mainly due to the exchange losses (exchange loss of Rs.63 billion), but this is said to be a decrease from the loss of Rs.163 billion recorded in the year 2021-22.

During the COPE hearing, SriLankan Airlines Chief Executive Officer Richard Nuttall said that for the 2023-24 financial year, SriLankan Airlines has set a revenue target of over USD 1 billion, with USD 60 million from ground handling and USD 40 million from catering services.

He said the airline saved USD 80 million in 2022 as it was the only state-owned enterprise to cut wages for employees due to the Covid-19 pandemic.

BIZ

CAA announces prices for 22 essential food Items

Published

3 days ago

March 15, 2025

editor

The Consumer Affairs Authority has released the estimated price ranges for 22 essential food items. These prices will remain valid until the 16th.

Scan 12 Mar 25 · 10·51·25 Download

BIZ

Nearly Rs. 05 mn. stolen onboard FitsAir flight!

Published

3 days ago

March 14, 2025

editor

Katunayake police have received a complaint over a sum of nearly Rs. 05 million being stolen from hand luggages of several passengers travelling from Sri Lanka to Dubai on a FitsAir flight.

The robbed passengers had included several doctors who were travelling to a medical conference in Dubai.

The loss of the cash, including 15,000 US Dollars and 6,000 Dirhams, had been only discovered after the passengers had disembarked the flight.

Upon complaining to the Dubai police, they were told to lodge complaints with the Bandaranaike International Airport in Katunayake and with the Sri Lanka Police. However, the robber remains at large.

It is said that the flight lacked CCTV cameras and the airline is also attempting to evade the matter despite the victims also complaining to the company office.

However, a day after the incident, a foreigner travelling from Dubai to Colombo was arrested over another inflight theft and according to media reports, the said suspect is said to have travelled in the aforementioned FitsAir flight to Dubai.

When the ‘Lankadeepa’ newspaper made an inquiry from the airline in this regard, they were told that the company cannot comment to the media.

Aberdeen Holdings, which owns FitsAir, is chaired by Sattar Kassim.

BIZ

MRP on rice remains unchanged – CAA

Published

5 days ago

March 13, 2025

editor

The Consumer Affairs Authority (CAA) today (March 13) announced that the Maximum Retail Prices of rice remain unchanged.

The CAA notes that reports have emerged of certain rice mill owners and wholesalers attempting to sell rice at higher prices by misleading retailers into believing that the CAA’s regulated prices have changed, leading to queries whether it is so.

Therefore the MRP remains unchanged and are as below :
Raw red rice – Rs. 220 per kg
Nadu rice – Rs. 230 per kg
Samba rice – Rs. 240 per kg
Keeri Samba rice – Rs. 260 per kg

The CAA further emphasizes that continuous raids and investigations will be conducted islandwide to strictly enforce these price regulations and take legal action against any violators.