SriLankan Airlines cancels orders for four Airbus A350: Finance Minister

ECONOMYNEXT – State-run SriLankan Airlines had cancelled orders for four Airbus A350 aircraft ordered during the ousted Rajapaksa regime paying billions of rupees, Finance Minister Ravi Karunanayake said.

Karunayake told reporters the airline had lost Rs25 billion (about $170 million) over cancelled orders for four aircraft, which had to be paid within an year.

Other reports said the penalty had been negotiated down to $98 million.

SriLankan had ordered four A350s from AerCap, a leasing company, and another four from Airbus.

The first of four aircraft was cancelled with a payment of $17.5 million. (Colombo/Oct05/2016)

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