SriLankan paid over Rs 16,000 million to cancel aircraft order – COPE

Srilankan Airlines

The decision taken by the incumbent government to cancel the order for Airbus A350 is among the reasons for the Rs 40,000 million loss incurred by SriLankan Airlines, the report of Committee on Public Enterprise (COPE) has pointed out.

The COPE report mentions that, before obtaining the Cabinet approval, SriLankan Airlines has paid a compensation of Rs. 16, 924,36 million to cancel the financial lease agreement for four out of the eight Airbus A350 aircraft, which were slated to be leased out.

The report further states, 190 officials of SriLankan Airlines are drawing a monthly salary of over Rs 1 million each.

SriLankan Airlines had suffered Rs 31,365.83 million in 2014, Rs 16,329.90 million on 2015, Rs 12,083.62 million in 2016 and Rs 28,339.51 million on 2017.

Within the past 9 months, SriLankan Airlines had recorded the highest loss incurred in its history, which amounted to Rs 40,000 million, the COPE report revealed.

(Source: Ada Derana)