News Today: Sri Lankan Airlines to undergo a 5-year restructuring plan, aiming for financial recovery

Sri Lankan Airlines, the national carrier of Sri Lanka, is set to undergo a five-year restructuring plan starting in 2025. Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma announced in Parliament that the Government has developed a strategic initiative to address the financial challenges faced by the airline.

According to Dr. Suriyapperuma, SriLankan Airlines currently owns 22 aircraft, with three remaining unutilized for several years. The airline has been paying US$ 900,000 per month in installments for these idle aircraft, significantly impacting its financial stability. Responding to a query from Samagi Jana Balawegaya MP Rohana Bandara, he emphasized the urgency of the restructuring process to restore profitability.

The airline employs 3,194 staff members in its core airline operations, while an additional 2,862 employees work in its strategic business units. To overcome its financial burden, the Government is evaluating restructuring proposals that aim to achieve operational profitability and reduce dependency on state support within the five-year period.

The proposed plan will focus on optimizing fleet management, reducing operational costs, and enhancing revenue streams. Industry experts believe that the restructuring could bring positive changes, improving efficiency and sustainability in the long run.

This development has drawn widespread attention, making headlines in News Today. The Government’s approach to reviving SriLankan Airlines is expected to play a crucial role in strengthening the nation’s aviation sector.