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SriLankan – Korean Air enters codeshare partnership

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SriLankan Airlines and Korean Air have officially activated a new codeshare partnership effective 15 March 2024, presenting enhanced travel options and connections for customers of both airlines travelling between Colombo and Seoul.

Richard Nuttall, Chief Executive Officer of SriLankan Airlines stated: “We are delighted to launch our first-ever codeshare partnership with Korean Air, and boost the connectivity between Colombo and Seoul. The passenger traffic between the two cities continues to exceed our expectations, and the partnership will only help us grow our presence in this route in a manner that is fast and economical for the airline, and give more reasons for customers to choose SriLankan Airlines.”

The new partnership enables SriLankan Airlines to codeshare on flights operated between Singapore and Seoul Incheon by Korean Air, making it possible for passengers to travel on a single, SriLankan Airlines’ ticket between Colombo and Incheon via Singapore. At the same time, Korean Air will codeshare on flights operated by SriLankan Airlines between Colombo and the cities of Seoul Incheon; Singapore; Chennai in India; and Male in the Maldives.

SriLankan Airlines currently operates a twice-weekly direct service between Colombo and Incheon. With SriLankan Airlines tapping into Korean Air’s extensive Far Eastern network through codeshare collaboration, passengers of SriLankan now have the choice of daily flights between Colombo and Seoul via Singapore.

Passengers of Korean Air also gain access to SriLankan Airlines’ high-powered network in the Indian Subcontinent. SriLankan Airlines has India and the Maldives covered coast-to-coast. The airline operates nearly 100 flights a week across nine Indian cities and 23 flights a week to the Maldives. This includes triple daily plus flights between Colombo and Chennai and triple daily flights between Colombo and Male.

The codeshare flights are available for sale through the online reservation systems and sales offices of SriLankan Airlines and Korean Air, and external online and offline travel agencies. Customers of both airlines can take advantage of the multiple flight options as well as seamless connections afforded by the convenience of a single ticket on multi-sector journeys, which includes through check-in and baggage transfer.

The commencement of the codeshare partnership between SriLankan Airlines and Korean Air marks a milestone in enhancing connectivity between Sri Lanka and South Korea. With increased flight choices, streamlined connections, and improved market presence, both airlines are poised to deliver an enhanced travel experience for passengers while fostering stronger ties between the two nations.

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Indigo launches Mumbai-Colombo direct flights

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Indigo has expanded its connectivity to Sri Lanka adding Mumbai-Colombo direct flights from today (12), Airport and Aviation Services (Sri Lanka) (Pvt) Limited said.

Accordingly, Indigo will operate flights three times a week on Tuesdays, Thursdays and Fridays.

At present, Indigo operates to three destinations in India from Colombo (Chennai twice daily, Bengaluru once daily and Hyderabad six days per week). With this new route expansion, this will increase to four destinations, and it will contribute immensely to the development of travel, trade and tourism between Sri Lanka and India. 

With the new addition, Indigo will operate 30 weekly flights to Colombo from four main cities in India.

“AASL recently had successful negotiations with Indigo to commence flight operations between Jaffna and Chennai, India. Accordingly, Indigo will commence direct flight operations between Jaffna and Chennai from June 1, 2024 onwards with daily flight operations. This connectivity will boost travel and trade in the Northern Province, strengthening the cultural and religious bonds between the two nations”, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said.

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Questions raised on investing in the Ceylon Dollar Bond

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Personal Foreign Currency Accounts (PFCs) and Business Foreign Currency Accounts  (BFCAs) cannot be invested in the Ceylon Dollar Bond Fund, says a spokesman of the Foreign Exchange Department at the Central Bank of Sri Lanka.

He said that banks are well aware of this.

The spokesman was responding to ‘Sri Lanka Mirror’ on queries raised on social media promotions being done by Ceylon Asset Management Co. Ltd, with regard to such investments.

Ceylon Asset Management Co. Ltd. is also a company that is registered with the CSE.

The spokesman further notes that the CBSL has only permitted them to invest in ISBs.

However, promotions done by the company have indicated that dollar investments can also be done through PFCs, and that the investors can expect around a 24% dollar returns.

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Experts state that expecting such high profits in ISB investments, is questionable.

Upon contacting the DG of Ceylon Asset Management Co. Ltd, – Dulindra Fernando, he briefly stated that the CBSL has permitted their company to do such foreign fund transfers while some banks have refused to do so.

However, he urged to submit a formal request via email for further details.

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SLT divestiture allowed

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The Court of Appeal yesterday vacated the Interim Order issued on the divestiture of the Sri Lankan Government-owned shares in Sri Lanka Telecom PLC.

The Interim Order was earlier issued by Court on April 4 when two Writ applications challenged the proposed divestiture of the Sri Lankan Government-owned 50.23 percent shares in Sri Lanka Telecom PLC and 51.34 percent shares in Lanka Hospitals Corporation PLC.

The petitions were filed by Lyca Mobile SARL, Lyca Leasing Holding Ltd, Pettigo Comercio International LDA and HAIMS International Ltd.

When the petitions were considered before Court of Appeal Judge Mohammed Laffar, Additional Solicitor General Sumathi Dharmawardena appearing for the Deputy Director General and the members of the State Owned Enterprise Restructuring Unit Established under the Finance Ministry, Secretary to the Treasury and the Attorney General raised preliminary objections highlighting several technical errors in the power of attorney and the affidavit submitted is not valid.

Accordingly, the court vacated the said Interim Order on the divestiture of Sri Lanka Telecom PLC and informed the petitioner of this particular petition to submit fresh power of attorney by April 29 and request for an interim order if necessary. However, the Interim Order issued on the divestiture of the shares of Lanka Hospitals Corporation PLC was extended by the court until April 29.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

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