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Sat, May 7, 2016, 11:02 am SL Time, ColomboPage News Desk, Sri Lanka.May 07, Colombo: Sri Lanka's national carrier, SriLankan Airlines announced that it has recorded a significantly improved performance at the close of the Financial Year ending 31st March 2016 (based on un-audited financials) compared to the previous year - despite several legacy issues still remaining unresolved.
Given the complexity of the business these issues are being addressed in a responsible manner together with the Shareholder, as part of the restructuring program of the airline.
Without 'one-off' extraordinary payments related to restructuring activities, the Airline's Group Loss stood at LKR 8.9 billion - a 46% improvement for the current period compared to the previous year.
While the steep drop in fuel prices contributed to the Airline's improved performance, this benefit was significantly eroded with its revenue declining 4% year on year to LKR 115.9 Billion in 2015/16 from LKR 120.4 Billion in 2014/15.
more/source: http://www.colombopage.com/archive_16A/May07_1462599151CH.php
Given the complexity of the business these issues are being addressed in a responsible manner together with the Shareholder, as part of the restructuring program of the airline.
Without 'one-off' extraordinary payments related to restructuring activities, the Airline's Group Loss stood at LKR 8.9 billion - a 46% improvement for the current period compared to the previous year.
While the steep drop in fuel prices contributed to the Airline's improved performance, this benefit was significantly eroded with its revenue declining 4% year on year to LKR 115.9 Billion in 2015/16 from LKR 120.4 Billion in 2014/15.
more/source: http://www.colombopage.com/archive_16A/May07_1462599151CH.php