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    HomeLocal NewsRestructuring of SriLankan Airlines has reached the 2nd stage

    Restructuring of SriLankan Airlines has reached the 2nd stage

    The Minister of Ports, Shipping and Civil Aviation Mr. Nimal Siripala de Silva says that 3 companies are currently coming forward for the restructuring of SriLankan Airlines.

    The minister mentioned that 2 of them are foreign companies and the rest is a local company.

    The minister mentioned that one of the companies will be chosen and steps will be taken to restructure SriLankan Airlines.

    Minister Nimal Siripala de Silva said that the Tender Board is currently working on the selection of a suitable company after studying the condition of the companies presented.

    The time given to submit bids for the investment of SriLankan Airlines ended on March 5th and the Minister of Ports and Aviation Mr. Nimal Siripala de Silva extended it by another 45 days.

    In the meantime, the minister said that the World Bank’s investment advisory body, the International Finance Corporation or IFC, has advised the company of the need to reduce its debt of about $1.2 billion in order to find a new investor.

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