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Monday November 9th, 2026

Sri Lanka civil aviation in historic Covid-19 challenges in 2020

DIFFICULT TIME: Sri Lanka airport staff helping passengers in a Coronavirus pandemic.

ECONOMYNEXT – Sri Lanka is marking the International Civil Aviation Day on December 07 with the sector facing severe challenges, with air travel disrupted around world and in the island.

“We celebrate the International Civil Aviation Day at a time the aviation industry in the whole world has been challenged by the COVID-19 global pandemic since February 2020,” Airport and Aviation Services of Sri Lanka, the state-run airports agency said.

“With the consequences of travel restrictions, air service connections between cities worldwide collapsed.

“On the day of 2020, we celebrate Civil Aviation Day, the global aviation industry is in a crisis yet hoping for a soon recovery.”

Sri Lanka’s Colombo Airport was one of the few that were open at the height of the pandemic in the second quarter of 2020 and SriLankan Airlines was one of the last airlines to stop scheduled flights.

SriLankan continued to fly cargo and relief flights.

Qatar Airlines continued to fly to Colombo.

In 2020 kicked off the construction of a new terminal that will expand capacity at Colombo which was operating beyond its designed capacity until 2020.

The Wright brothers of the US are considered to have made the first sustained, controlled, powered heavier-than-air manned flight in at Kill Devil Hills in North Carolina.

Commercial services were done by lighter-than-air craft, or airships developed by Count Ferdinand von Zeppelin of Germany in 1910.

The services were halted by the start of the First World War. At the beginning of the War aircraft mostly single engine wood and fabric machines used for reconnaissance by the armies of the UK, France and Germany.

By the end of World War I, purpose built fighters and twin-engined bombers had been developed and engine technology had also advanced.

British aviators John Alcock and Arthur Brown made the first non-stop Atlantic crossing, carrying some airmail using a Vickers Vimy bomber which was built too late for active service.

By the end of the Second World War all metal monoplanes, strategic bombers with extended endurance were developed and the jet engine was independently developed in the UK and Germany.

War surplus bombers, operated by former pilots led to an explosion of civilian commercial aviation, while the jet airliners transformed the industry.

The following key milestones of the Aviation Industry of Sri Lanka were provided by the AASL.

1932

Governor of Ceylon negotiated to extend the airmail service between the United Kingdom and India via Ceylon

1934

State Council of Ceylon decided to construct an aerodrome at Ratmalana

1936

The aerodrome at Ratmalana was completed and the Aero Club of Ceylon provides the public with flight opportunities.

1937

First Air Navigation Regulations were published. The first three aircraft bearing the Ceylon registration mark entered into the aircraft register

1938

The Ratmalana Airport was inaugurated on the 28 of February. The Director of Public Works was appointed as the Director of Civil Aviation.

1939

An emergency landing was conducted in Puttalam

1942

With the outbreak of World War II, the Royal Air Force takes control of functions of the Ratmalana Airport.

1945

The United Kingdom Australia – ‘LANCASTRIAN’ service commenced operations via Ceylon

1946

The Department of Civil Aviation was established under the Ministry of Transport. The Ratmalana aerodrome was taken over from the Royal Air Force for civil flying.

1947

Air Ceylon – the National Carrier was set up under the Ministry of Communication and Works and inaugurates international flights from Colombo to Madras via Jaffna.

1948

Sri Lanka was appointed as a member of the International Civil Aviation Organization (ICAO).

1950

The Navigation Act No. 15 of 1950 was promulgated. An Academy to train pilots was established

1955

Air Ceylon entered into an agreement with KLM Royal Dutch Airlines

1959

International flight operations were shifted to Katunayake.

1963

The development program of Katunayake Airport commenced. The RAF Runway was extended from 1,840 to 3,350 meters with assistance from the Government of Canada. Terminal Building was constructed to hold 150,000 passengers per year.

1967

Inauguration of Bandaranaike International Airport, Katunayake. (BIA

1968

Construction of a larger terminal building, apron and taxiway took place.

1979

Inauguration of the National Carrier – Air Lanka. Airports Authority Act of 1979 promulgated and the Airport Authority was established.

1980

The Airport Authority took over civil airport operations from the Department of Civil Aviation.

1981

The Government decided to establish a Government-owned company to handle civil aviation in Sri Lanka.

1982

Amendments were made to the Air Navigation Act.

1983

Establishment of the Airport and Aviation Services (Sri Lanka) (Private) Limited- AASL to oversee the overall development, maintenance, administration, and service delivery of the airports

1984

A development program was launched to construct a new runway, passenger terminal building, cargo complex, control tower, and navigation services and maintenance complex.

1987/1988

The development program was completed and the new runway and passenger terminal building was commissioned with an annual handling capacity of 3.5 million passengers.

1992

The Air Cargo Village was inaugurated.

1998

AirLanka was re-branded as “SriLankan Airlines” following its partial acquisition by Dubai based Emirates Group.

2005

A completely new outlook was commissioned for the Airport in November with the construction of a finger pier with eight aerobridges, an expanded terminal, lounges, and other facilities.

2008

AASL celebrated 25 years Silver Jubilee

2010

The Civil Aviation Act No.14 of 2010 was passed in the Parliament. The Civil Aviation Authority of Sri Lanka issued the certificate and license to AASL to operate the Civil aerodromes in Sri Lanka as the statutory service provider.

2012

The civil aviation sector completed 100 years of service beginning with the first plane performing its successful flight at the Racecourse Grounds in Colombo on 7 December 1912.

2013

Sri Lanka’s second International airport MRIA at Hambantota was declared open on 18 March.

2015

With a view to promoting MRIA, the Government declared full “Open Skies Policy” at MRIA with all nine freedoms of air available to airlines.

2017

The runway was resurfaced at BIA and was upgraded to accommodate A380 by expanding the width of the runway from 60 meters to 75 meters

2018

The Batticaloa Airport was reopened for civil operations in March.

2019

AASL expanded its International airport operation network to the northern part of Sri Lanka by reopening the Jaffna International Airport (JIA).

Sri Lanka rupee closes at 332.53/59 to US dollar spot, bond yields edge up

ECONOMYNEXT – Sri Lanka’s rupee closed at 332.53/59 to the US dollar spot on Monday, from 332.55/60 the previous day, while bond yields closed higher, dealers said.

A bond maturing on 15.09.2029 closed at 190/98 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 closed at 11.07/12 percent, up from 11.05/10 percent.

A bond maturing on 01.02.2031 closed at 11.30/40 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 closed at 11.65/70 percent, up from 11.55/65 percent.

A bond maturing on 01.11.2033 closed at 11.95/12.00 percent, up from 11.90/95 percent.

A bond maturing on 15.10.2034 closed at 12.10/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 closed at 12.40/50 percent, up from 12.30/40 percent. (Colombo/Nov9/2026)

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Sri Lanka stocks close up 1.37-pct, banks lead turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Monday, CSE data showed, with the benchmark All Share Price Index moving up 1.37 percent.

The ASPI was up 291.72 points at 21,531.37, while the more liquid S&P SL20 was up 1.67 percent, or 100.96 points, at 6,146.34.

Positive contributors to the ASPI were Commercial Bank of Ceylon (up 2.86 percent at 216.00 rupees), Hatton National Bank (up 1.52 percent at 399.75 rupees), Asiri Hospital Holdings (up 12.86 percent at 31.60 rupees), Tokyo Cement Company (up 5.22 percent at 84.70 rupees), and Access Engineering (up 3.93 percent at 81.90 rupees).

Carson Cumberbatch (down 4.24 percent at 712.00 rupees), Richard Pieris and Company (down 2.43 percent at 28.10 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), Renuka Holdings (down 2.63 percent at 37.00 rupees), and Chevron Lubricants Lanka (down 0.61 percent at 204.25 rupees) were top negative contributors.

Market turnover was 3.33 billion rupees. The S&P/CSE Banks Industry Group led turnover with 667.76 million rupees.

The session saw heavy crossings, according to Raynal Wickremeratne, Head of Research and Strategy at NDB Securities. Significant crossings included Keells (23 million rupees), Distilleries Company (27.7 million rupees), Sunshine Holdings (30.6 million rupees), Commercial Bank (32.4 million rupees), Ceylon Tobacco Company (35.6 million rupees), Hatton National Bank (39.5 million rupees), Prime Lands (40.5 million rupees), and HAS Holdings (41.5 million rupees).

In corporate news, Hayleys Retail Holdings Ltd announced it has partnered with supply chain software provider Blue Yonder to build and scale an AI-native grocery supermarket chain across Sri Lanka. (Colombo/Nov09/2026)

 

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Sri Lanka’s Hayleys Retail to launch supermarket chain with Blue Yonder

ECONOMYNEXT — Hayleys Retail Holdings Ltd has selected supply chain software provider Blue Yonder to build its grocery retail operations from the ground up, the two companies said in a joint statement.

Hayleys Retail, a member of Sri Lanka’s diversified conglomerate Hayleys Group, plans to open several stores in the near future to serve consumers across the country. The agreement marks Blue Yonder’s first retail customer in Sri Lanka.

“Our entry into supermarket retail is about bringing that same commitment to quality and reliability closer to everyday Sri Lankan consumers,” Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC said.

“With Blue Yonder, our teams will have AI-driven insight to deliver a seamless, consistent shopping experience across every store,” he said.

Hayleys, which accounts for approximately 5 percent of Sri Lanka’s export income and operates across 17 business sectors, is entering the large-scale supermarket space by drawing on its group strengths in manufacturing, logistics, and services.

The company selected Blue Yonder to connect its data across merchandising and shelf space, deploy artificial intelligence agents to catch operational issues early, and scale its business into a national network without changing platforms.

The rollout will begin with merchandise operations to manage suppliers, items, costs, and pricing, followed by machine learning capabilities to forecast demand and balance store inventory during seasonal peaks.

“Hayleys Retail is choosing one where AI is the foundation rather than an add-on—connected data and agentic AI built into core merchandising operations, and planning that learns as the business grows,” Antonio Boccalandro, President, APAC at Blue Yonder said.

The retailer plans to use the platform to automate routine store tasks and adjust inventory according to real-time sales and local market trends as its store footprint grows. (Colombo/Nov09/2026)

 

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Sri Lanka’s Citrus Leisure extends Lotus Tower management pact

ECONOMYNEXT – Sri Lanka listed hospitality firm Citrus Leisure said it has extended an agreement to manage consumer-facing and entertainment spaces at the Colombo Lotus Tower, which includes revolving restaurant Blue Orbit, until June next year.

The initial agreement signed between Citrus Leisure and Colombo Lotus Tower Management Company (Private) Limited (CLTMC) is due to expire on December 11.

“The Board of Directors of CLTMC at meeting held on 2nd November 2026 has resolved to extend the term of the Management Agreement and continue the existing Management Agreement until 30th June 2027, to which the company has given its concurrence,” the company said in a market filing.

Citrus Leisure Plc opened its revolving restaurant at the Lotus Tower in December 2023.

The company signed a 3-year agreement with CLTMC in May 2023 to provide services in the management of (l) the banquet hall 1 on the 25th floor, (2) the banquet hall 2 on the 26th floor, (3) the revolving restaurant on the 27th floor, (4) the 6 suites situated on the 28th floor and the kitchen in the basement floor of the Colombo Lotus Tower.

The 350-meter or 1,150-feet tower, the tallest in South Asia, was built at a cost 104.3 million US dollars with 80 percent of the money borrowed from Exim Bank of China.

Located in the commercial heart of Colombo, the tower has been called a symbolic landmark of Sri Lanka as well as a colossal white elephant and has been mired in controversy for years. (Colombo/Nov9/2026)

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CIC Holdings Sept quarter net profit rises 20-pct to Rs1.7bn

ECONOMYNEXT — Sri Lanka conglomerate CIC Holdings recorded a net profit of 1.66 billion rupees for the quarter ended September 30, rising 20.3 percent from 1.38 billion rupees in the same quarter last year, interim accounts showed.

The group posted basic earnings per share of 0.87 rupees for the September quarter, up from 0.73 rupees a year earlier.

Quarterly revenue grew 3.4 percent to 20.89 billion rupees from 20.20 billion rupees, supported by broad-based growth across industrial solutions, livestock, and healthcare segments, which counterbalanced relative demand moderation in agricultural inputs.

Cost of sales rose 5.3 percent to 15.20 billion rupees, outpacing revenue growth and causing gross profit to contract marginally by 1.2 percent to 5.68 billion rupees.

Results from operating activities dropped 7.3 percent to 2.66 billion rupees from 2.87 billion rupees, impacted by higher operating overheads.

Selling expenses expanded 6.8 percent to 2.15 billion rupees, and general and administrative expenses climbed 5.8 percent to 1.07 billion rupees, while other operating income dropped 29.6 percent to 117.40 million rupees.

However, operating profits were cushioned by an impairment reversal on trade receivables of 85.83 million rupees, turning around from an impairment provision of 23.38 million rupees in the corresponding quarter last year.

Net finance costs climbed 35.4 percent to 712.25 million rupees from 526.01 million rupees.

The increase was driven by a 30.8 percent rise in finance expenses to 771.46 million rupees, primarily reflecting higher interest expenses on loans to finance elevated working capital and inventory requirements.

The quarter’s bottom line was strongly bolstered by CIC’s equity-accounted investment in John Keells Holdings PLC (JKH).

Share of profit from equity-accounted investees surged more than fourfold to 590.50 million rupees from 257.87 million rupees, driven by JKH’s strong profit expansion during the period.

The group also recognized a gain on bargain purchase of 55.59 million rupees during the quarter resulting from additional share purchases in JKH where the proportionate net asset value exceeded acquisition cost, compared to no such gain a year earlier.

With associate income gains offsetting operating margin contraction and higher borrowing costs, group pre-tax profit held virtually flat at 2.59 billion rupees, down 0.11 percent.

Income tax expense fell 29.4 percent to 606.24 million rupees from 858.71 million rupees, driving total group profit for the period up 14.1 percent to 1.98 billion rupees.

Total group assets stood at 108.58 billion rupees as of September 30, up from 99.75 billion rupees at the end of March 2026.

Group net asset value per share increased to 25.52 rupees from 22.10 rupees a year earlier.

CIC Holdings’ ordinary voting shares closed at 27.80 rupees at the end of September.(Colombo/Nov09/2026)

 

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Sri Lanka stocks trend up; ASPI gains 0.78-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.78 percent.

The ASPI was up 165.73 points at 21,405.38, while the more liquid S&P SL20 was up 0.61 percent, or 37.04 points, at 6,082.42.

Positive contributors to the ASPI were Commercial Bank (up 1.55 percent at 213.25 rupees), Ceylon Cold Stores (up 2.61 percent at 128.00 rupees), Asiri Hospital Holdings (up 10.00 percent at 30.80 rupees), Hemas Holdings (up 1.27 percent at 32.00 rupees), and Ambeon Holdings (up 6.02 percent at 37.00 rupees).

Namunukula Plantations (down 3.92 percent at 63.70 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), and Chevron Lubricants Lanka (down 0.12 percent at 205.25 rupees) were top negative contributors.

Market turnover was 428.31 million rupees. Capital goods led turnover with 82.53 million rupees. (Colombo/Nov09/2026)

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