Colombo, Jan 8 (newsin.asia) – Sri Lankan President Maithripala Sirisena has appointed a ten member commission to restructure the island’s national airline after it recorded a loss of nearly 105 million US dollars for the financial year of 2017-2018, local media reports said Tuesday.
The committee will be headed by State Minister of Finance, Eran Wickramaratne.
A statement from the President’s office said that the committee had been instructed to hand over its recommendations to President Sirisena in two weeks and other parties too could submit their suggestions and ideas to develop the national airline.
“The President will take the future decisions regarding Sri Lankan Airlines, taking into consideration of those recommendations,” the statement said.
The government, in August last year said it will renew its search for an investor for Sri Lankan Airlines through public call for offers. The government said it had activated a strategic business plan and were confident that by the end of the financial year 2018-2019, the airline could record a significantly lesser loss.
In 2017, Prime Minister Ranil Wickremesinghe had said that the government was seeking an international partner who could manage and invest in the flag carrier after the airline recorded a massive debt of 3.25 billion U.S. dollars when the government came into power in 2015.
Wickremesinghe said the Sri Lankan Airlines was a “landmine” for the country’s economy with its high debts and the government would take over part of its debts in order to seek for an international partner or investor.