Thursday, December 1, 2022
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SriLankan now defaults on $175 M Bond

Srilankan Airlines has warned about its capability to make a coupon payment on a Singapore-listed bond, citing the deterioration in Sri Lanka’s economy. The payment relates to a $175 million bond with a 7% coupon listed in Singapore, according to a filing with the Singapore stock exchange. The bonds term is to complete in 2024.

This is the Company and Board that wanted to lease 25 new Aircraft. Where was the money coming from? Shows their commitment. The airline was given a hand out of $500 million by the President using the tax payers USD reserves. As usual he had no clue what was happening. The board must held responsible for the mismanagement . Time for the public to sue the board for running down the airline to the ground . Hans Wijesuriya is a top executive of Dialog, an aide of the President, Malik Fernando has foreign income from Tea exports. His wife Kirmali ruined the tourism industry.

Jayantha Perera buys tickets from the airline for sale. Ashok Pathirege owes billions to banks. So this is the A team put by Gotabaya. They obviously are hanging according Airline staff for the tickets. Looks pathetic for an Airline Board. The President’s track record is so pathetic, but remains defiant including the cronies round him. COPE over to you.

Adolf

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