Partnership with the private sector is among the multiple options for the development of the state-run SriLankan Airlines but the government has not decided on any since its focus is now on the national carrier's debt restructuring, Daily Mirror learns.
The management of the airline has already submitted its business plan with numerous options to make the cash-strapped entity economically viable and the involvement of the private sector is one of them.
SriLankan Airlines lost Rs.1.9 billion in the seven-month period up to October, last year, according to the finance report. In contrast, it recorded a profit of over Rs.4 billion the previous year.
An informed source said that the government is fully focused on debt restructuring of the airline with comparability of treatment to all the creditors.
SriLankan Airlines borrowed from capital markets through a bond with a sovereign guarantee.
The government also announced Rs.20 billion in the budget for debt settlement of the national carrier.
