SriLankan Airlines has agreed to pay Rs 800 million to the Ceylon Petroleum Corporation (CPC), while also agreeing to pay the rest of money in instalments. According to CPC Managing Director Neil Jayasekara, agreement was reached at a meeting between Public Enterprise Development Ministry Secretary Ravindra Hewawitharana, CPC Chairman Dhammika Ranatunga and SriLankan Airlines Chairman [...]

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Uninterrupted fuel supply for SriLankan, assures payments in instalments

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SriLankan Airlines has agreed to pay Rs 800 million to the Ceylon Petroleum Corporation (CPC), while also agreeing to pay the rest of money in instalments.

According to CPC Managing Director Neil Jayasekara, agreement was reached at a meeting between Public Enterprise Development Ministry Secretary Ravindra Hewawitharana, CPC Chairman Dhammika Ranatunga and SriLankan Airlines Chairman Ranjith Fernando, on July 2.

Last week the Sunday Times exclusively reported a CPC deadline to the Airline to make payment for the fuel purchased.

As per the agreement, SriLankan Airlines agreed to pay next week, US$ 5 million, (Rs 800 million) to the CPC. This is part of the US$ 87.5 million (Rs 13.45 billion) SriLankan owes the CPC. SriLankan Airlines has also agreed to seek Cabinet approval to obtain a loan from a private bank, to pay the balance due to the CPC.

Accordingly, the CPC said it will continue to provide fuel to the Carrier’s aircraft.

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