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SriLankan Airlines’ new board to re-structure, seek strategic partner

ECONOMYNEXT – Loss-making state-run SriLankan Airline will seek a strategic partner under a new chairman and board, while re-structuring it under a plan devised by Nyras, an aviation consultancy, the finance ministry said.

Ranjit Fernando, former chief of National Development Bank will be chairman.

The other directors will be Mano Tittawella (ministry of finance), Roshan Perera (central bank), Air Marshal Kapila Jayampathi (Air Force Commander) and Susantha Katugampala (Lawyer/Barrister).

A committee of officials chaired by the Treasury secretary, convened by Chairman of the National Agency for Public Private Partnership (NAPPP) Thilan Wijesinghe and the secretary of the ministry of Public Enterprises will carry out a a restructuring of the airline and a search for a strategic partner.

If will be guided a by ministerial committee chaired by Prime Minister Ranil Wickremesinghe.

Nyras, a UK based aviation consultancy hired in 2017 will work under the officials committee. It has presented a business plan to make the airline viable in the medium term, the finance ministry said. It had also helped re-structure Aer Lingus and Swiss Air.

With airline de-regulation and private airlines coming up in many regions, state-run airlines have run into losses. (Colombo/Apr03/2018)

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