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September deadline for SriLankan – no more bailouts

Sri Lankan Airlines may not have funds to continue from next September hence a strong decision has to be taken on it, State Minister for State Enterprise Development Development, Lakshman Yapa Abeywardana said.

He made this comments while assuming duties as the news State Minister for State Enterprise Development, at the World Trade Centre.

Speaking to the media Deputy Minister said that the Treasury has funded the airline and bailed it out on many occasions. However this cannot go on after September.

The Deputy Minister said that there are several options like the Private Public Partnership deal, restructuring deal and several other options. “We have to take a decision on one of them soon,” he said.

The Minister said that it was very ironic to note that though SriLankan flights operate almost to near capacity all the time there were no profits. “This clearly shows that there are management flows which should be addressed soon. We will do it,” he cautioned.

Abeywardana also said that in addition to SriLankan there were 54 other loss-making state ventures. “Our main concern it to turn around these as well through several measures worked along with the Minister of Enterprise Development, Kabir Hashim.”

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