SriLankan Airlines to get US$150mn cash injection in 2020

State-run SriLankan Airlines would get a 150 million dollar cash injection in 2020 which would be part of a 500 million dollar to be injected in the medium term, Prime Minister and Finance Mahinda Rajapaksa said.

SriLankan has been badly hit by a Coronavirus crises but it is running relief flights, cargo flights to make money.

SriLankan had been making losses ever since its managing shareholder Emirate Airlines was removed and the privatization reversed in 2008.

However Prime Minister Rajapaksa blamed the last administration for not injecting cash to the airline.

“Due to the suspension in 2015 of the 2013 commenced programme to strengthen the SLA by infusing capital of USD 500 million over 5 years, and the subsequent efforts to privatize the SLA, has made it financially weak,” he said in parliament.

The government has presented an Appropriation Bill to gain approval for spending made before the new parliament was elected and to get approval for expenses for the rest of the year. (Colombo/Nov12/2020)

-ECONOMYEXT