Sri Lankan Airlines losses increase by 24%

by admin
Mar 4, 2015

SriLankan Airlines increased its losses by 24% in 2014 reports ColomboPage, with the company losing Rs. 32.4 billion last year.

In annual reports submitted to parliament, the government owned company stated that mandatory aircraft modifications and an increase in finance expenses led to the loss, up from Rs. 26.1 billion in 2013.

Over the last year the Sri Lankan government had provided several sources of funding for the struggling airline, committing an investment of Rs. 19.6 billion (US$ 147.5 million) and a further a US$ 150 million bank facility.

In 2015, a further investment of US$ 500 million was planned.

See our earlier post:

Sri Lankan state enterprises lose billions of rupees (14 Nov 2014)

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