Sri Lankan President abandons plan to sell SriLankan Airlines

Sri Lankan President Anura Kumara Dissanayake has decided to abandon the plan, implemented by the previous government, to sell at least 51% of the shares of SriLankan Airlines.

The previous government had initially planned to privatize SriLankan Airlines through the State-Owned Enterprise Restructuring Unit. However, the Cabinet at the time later reversed the decision to sell the airline.

Nevertheless, the Chairman of the NPP Economic Council, Professor Anil Jayantha, stated that the current government believes SriLankan Airlines should remain under state ownership, as it plays a vital role in promoting the country’s tourism sector.

Professor Jayantha also mentioned that instead of selling the airline, the NPP government is working on ways to improve its management.

As a step toward attracting private investors, the previous Cabinet had agreed to transfer $510 million of SriLankan Airlines’ debt to the government.

The previous government had planned to sell at least 51% of the airline’s shares.