SriLankan Airlines review committee appointed

The Cabinet of Ministers has approved the appointment of a committee chaired by Senior Presidential Advisor on Digital Economy Dr. Hans Wijayasuriya to conduct a strategic review and restructuring of SriLankan Airlines.

The Government has identified the need for an urgent and comprehensive review of the national carrier, taking into account the country’s broader economic situation. The main objective is to establish a financially sustainable and commercially efficient airline while reducing the long-term fiscal burden on the Government.

The strategic review and restructuring process will be carried out in collaboration with the International Finance Corporation (IFC), which has been appointed as the Transaction Advisor. A dedicated committee has been established to oversee the process and provide recommendations to the Government.

The committee comprises:

• Dr. Hans Wijayasuriya, Senior Presidential Advisor on Digital Economy (Chairman)
• Duminda Hulangamuwa, Senior Presidential Economic Advisor
• Deshal De Mel, financial and corporate strategy expert
• Dumith Fernando, transaction and investment banking, mergers and acquisitions expert
• The Secretary to the Ministry of Finance or a representative
• The Secretary to the Ministry of Transport, Highways and Urban Development or a representative of the Civil Aviation Authority
• The Chairman of SriLankan Airlines
• Legal experts with specialised knowledge in corporate, aviation and public law
• Aviation industry experts to be appointed

The committee has been tasked with conducting an independent review and assessment of the airline’s strategic direction and future course of action, recommending restructuring requirements and possible restructuring models, evaluating strategic options and identifying the most suitable course of action in line with the Government’s objectives, and providing oversight, guidance and support for the implementation of the selected strategy and execution framework.

According to the Government, the committee will remain in operation throughout the strategic review and restructuring process or until it is formally dissolved.