Wednesday, May 22, 2024

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SriLankan Catering ready for privatization!

It was decided to privatize 49% of shares of the SriLankan Catering Company and its administration, revealed Minister in Charge Nimal Siripala De Silva.

In addition, it has been decided to privatize 49% of the airport operations and its administration.

The Minister affirmed this while speaking at the press conference held at the Ministry to notify about the restructuring of the SriLankan Airlines.

Mr. Silva further mentions that he is looking for a private investor to transfer these shares, and if more shares are requested, he is ready for that.

He says that with the money received through this, it will be feasible to settle the loan amount of 80 million dollars obtained by pledging the shares of the company and to settle another loan. The Minister mentions that through this the company’s debt burden can be reduced to some extent.

SriLankan Airlines, established in 2010, has suffered losses since its inception and now the company’s debt has exceeded 1.1 billion dollars.


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