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Saturday September 18th, 2021
Aviation

SriLankan to offer a whopping handshake to retiring employees – Cabinet

ECONOMYNEXT-The Cabinet has approved a Voluntary Retirement Scheme for 560 employees of SriLankan Airlines which will cost a whopping LKR 1.46bn, the Department of Government Information announced today.

A Three-Member Committee headed by the Secretary to the State Ministry of Aviation and Export Zones Development was appointed to study the aforesaid matter.

The committee recommended the implementation of the proposed Voluntary Retirement Scheme which will not hinder the operations of the company over the next three years.

Accordingly, proposal tabled by the Minister of Tourism to implement the aforesaid Retirement Scheme was approved by the Cabinet of Ministers.

Last week the government announced that the loss-making Airline would get a 150 million dollar cash injection in 2020 which would be part of a 500 million dollar to be injected in the medium term.

SriLankan had been making losses ever since its managing shareholder Emirate Airlines was removed and the privatization reversed in 2008.

However Prime Minister Mahinda Rajapaksa blamed the last administration for not injecting cash to the airline.

“Due to the suspension in 2015 of the 2013 commenced programme to strengthen the SLA by infusing capital of USD 500 million over 5 years, and the subsequent efforts to privatize the SLA, has made it financially weak,” he told Parliament. (Colombo/Nov17/2020)

Reported by Imesh Ranasinghe

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Comments (5)

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  1. Nimal Kodithuwaku says:

    Srilankan airlines is a money pit. Employees are overpaid compared to even Emirates, Ethiad, and Qatar airways. All current employees should take a 50% pay cut. No golden handshakes. Please respect the hard-working SriLankan taxpayers and the paying passengers.

  2. Harindra Ranasinghe says:

    Started with public funds, operated by pumping public funds and retrenching staff with the aid of public funds. This is the balance sheet after 43 years (Except during Emirates management). Rather than having a national carrier government would have subsidied for the tickets purchased in Sri Lanka from other airlines. God bless Sri Lanka!!

  3. Gamal says:

    Let’s bring back the profit making “Mihin Air” back

  4. sacre blieu says:

    This is to cover the commissions and remissions of past sins of the chairmen and administrators and corrupt politics. Normal compensation with terminal benefits should be the limit. The citizen should not be burdened with such a crime.

  5. sacre blieu says:

    Why such a handshake. The normal method of compensation should be effected. The culprits should be made to pay and even charged for dereliction of duty , mostly amounting to fraud and corruption. The country cannot afford such lavish handling of decelerates.

Comments

Comments (5)

Your email address will not be published. Required fields are marked *

Your email address will not be published. Required fields are marked *

  1. Nimal Kodithuwaku says:

    Srilankan airlines is a money pit. Employees are overpaid compared to even Emirates, Ethiad, and Qatar airways. All current employees should take a 50% pay cut. No golden handshakes. Please respect the hard-working SriLankan taxpayers and the paying passengers.

  2. Harindra Ranasinghe says:

    Started with public funds, operated by pumping public funds and retrenching staff with the aid of public funds. This is the balance sheet after 43 years (Except during Emirates management). Rather than having a national carrier government would have subsidied for the tickets purchased in Sri Lanka from other airlines. God bless Sri Lanka!!

  3. Gamal says:

    Let’s bring back the profit making “Mihin Air” back

  4. sacre blieu says:

    This is to cover the commissions and remissions of past sins of the chairmen and administrators and corrupt politics. Normal compensation with terminal benefits should be the limit. The citizen should not be burdened with such a crime.

  5. sacre blieu says:

    Why such a handshake. The normal method of compensation should be effected. The culprits should be made to pay and even charged for dereliction of duty , mostly amounting to fraud and corruption. The country cannot afford such lavish handling of decelerates.