Investors only, no airlines seeking to buy SriLankan Airlines
Nov 01, 2016 11:07 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka is likely to end up with narrow shortlist of about 'two or three' investors out of about eight who expressed initial interest, Deputy Finance Minister Eran Wickramaratne said.
Parties that expressed interest are currently engaging in due diligence to provide firm proposals, but there are no airlines among them, he told reporters.
In 1998 Dubai based Emirates bought a 40 percent stake in Sri Lanka at a time when international air travel was restricted to favour state airlines.
But now aviation regimes are far more liberal and tend to move towards 'open skies', which has reduced the value of SriLankan's bilaterals.
The airline however has ground handling and catering franchise at Colombo airport which is profitable. (Colombo/Nov01/2016)