Crisis-hit Sri Lanka to privatise national carrier as it runs out of money ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 27
Sri Lanka on Monday said it will privatise the country's loss-making national carrier as the cash-strapped government "can no longer afford to inject money" into running the airline. The government is looking to sell a 49 per cent stake each of the SriLankan Airlines' catering and ground-handling units in efforts to restructure the state-run carrier, while 51 per cent will be retained under state hold, Aviation Minister Nimal Siripala de Silva told reporters here. This restructuring is essential as the government can no longer afford to inject money into running the airline, he said. Annually the government has been providing the airline between USD 80 billion to USD 200 billion to run its o

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