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Ich bin raus bei dieser Airline und investiere auch weiterhin lieber in Vinyl 
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Sri Lanka to Absorb 50% of National Airline Debt
Sri Lanka to Absorb 50% of National Airline Debtby Zulfick Farzan
05-03-2024 | 2:30 PM
COLOMBO (News 1st); The Sri Lankan government has taken decisive steps to restructure the national carrier, Sri Lankan Airlines with a decision to absord 50% of its debt burden.
Aviation Minister Nimal Siripala De Silva announced today that the restructuring unit has received a letter from the International Finance Corporation (IFC), indicating that attracting competitive offers or reputable airlines to take over the airline's management is unlikely given its staggering debt of USD 1.2 billion.
He said that President Ranil Wickremesinghe, who also serves as the Finance Minister, submitted a Cabinet memorandum yesterday, emphasizing the urgent need for restructuring while ensuring the job security of the airline's 6,000 employees.
According to the Minister, President Wickremesinghe has agreed to take over the following debts owed by Sri Lankan Airlines:
- 210 million USD owed to the Bank of Ceylon & People's Bank
- 68.2 million USD overdraft at the Bank of Ceylon
- International bond of 175 billion USD
- International bond of Rs. 31.4 billion, backed by a treasury guarantee and letter of comfort
With these actions, the airline's balance sheet will witness a reduction of approximately 50% in its total debt, said the Minister, while noting that the treasury has already absorbed Rs. 102 billion in debt owed to the Ceylon Petroleum Corporation.
The government aims to complete the restructuring process within six months.
"Government is expecting this process to be completed within a period of six months and we will get money from the catering as well as from the ground handling and we are confident that we will be able to get more than 500 Million from fee structure in this airline," said the Minister.
He also noted that the period to call for bids for the restructuring of SriLankan Airlines extended for 45 days with effect from today (5)
Sri Lankan Airlines, the flag carrier of Sri Lanka, has faced financial difficulties in recent years, which later prompted the government to include it in the SOE restructuring programm.
Sri Lanka to Absorb 50% of National Airline Debt
COLOMBO (News 1st); The Sri Lankan government has taken decisive steps to restructure the national carrier, Sri Lankan Airlines with a decision to abs - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business...
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Sri Lanka to conclude most SOE sales by August; Srilankan by Sept | EconomyNext
Sri Lanka is expecting to conclude all the transactions related to divestiture of State-Owned Enterprises (SOE) by August this year under an ambitious reform process, the government-led State-Owned Enterprises Restructuring Unit (SOERU) said.
economynext.com