Sri Lanka Airlines losses Rs11.50bn in year to March; cuts operating loss to Aug
ECONOMYNEXT – State-run SriLankan Airlines had lost Rs16.3 billion, including one-off items, but operating losses had been cut to Rs9.03 billion from Rs11.5 billion, Chairman Ajith Dias said.
In the five months to August, operating losses have been further cut to Rs2.32 billion from Rs3.71 billion, he said.
Interest costs alone were Rs2.53 billion, Dias said.
Sri Lanka’s government is planning to take off some of the debt and clean up the balance sheet.
A private partner is expected to be chosen soon.