The SriLankan Airlines restructuring process is to be finalised before the end of July, according to a decision taken at the Cabinet Committee on Economic Management (CCEM) recently. The CCEM has instructed the Public Enterprises Development Ministry to arrive at a final decision as to whether to go-ahead with the model of public-private- partnership or [...]

Business Times

Decision on SriLankan Airlines by end-July

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The SriLankan Airlines restructuring process is to be finalised before the end of July, according to a decision taken at the Cabinet Committee on Economic Management (CCEM) recently.

The CCEM has instructed the Public Enterprises Development Ministry to arrive at a final decision as to whether to go-ahead with the model of public-private- partnership or to operate it as the state owned enterprise.

This directive was issued following the President’s June 25 meeting with the SriLankan Airlines board of directors where he has stated that he will take a decisive decision on the board of management. He has also disclosed at the meeting that the airline was not in a position to operate after September this year.

The International Monetary Fund (IMF) has also instructed the government to implement a restructuring plan soon which is expected to happen if there is no foreign airline to take over the management of the national carrier, informed sources said.

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