SriLankan Airlines looking to sub-lease Airbus A350s
Apr 07, 2016 11:43 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - State-run SriLankan Airlines is in talks to sub-lease three Airbus A350 aircraft it is has to take delivery this year, Chief Executive Suren Ratwatte said.
Sri Lankan has ordered up to eight A350s with three due in 2016, one in 2017 and another four from 2020 onwards.
But SriLankan has not been able to make profits on long-haul European routes the aircraft was deployed and a new administration has asked it to focus on regional traffic to cut losses.
Prime Minister Ranil Wickremesinghe told parliament that SriLankan may have to cancel the A350 orders and pay penalties.
The A350s due this year is leased from AerCap.
Ratwatte declined to confirm reports that the carrier is in talks with Turkish Airlines to sub-lease the A350s.
Trukish is a remarkable airline, which made losses under state-control which became one of the fastest growing and profitable carriers in the world after it was listed on the Turkish Stock Exchange and state-control was reduced.
SriLankan which was profitable when it was privatized and was managed by Emirates, became a loss-making carrier after ex-President Mahinda Rajapaksa cancelled the visa of the expatriate chief executive and Middle Eastern carriers sold its stake and existed.