Spending a staggering amount of money on fuel. UL - State-run loss-making Sri Lankan Airlines
Sri Lanka faces rising debt burden
The total Sri Lankan government debt as at end of August 2012 stood Rs.6249 billion against Rs.5059 billion reported in the same period of 2011, amidst rising domestic and foreign debt, the latest data released by the central Bank showed.
The total domestic debt which consists of treasury bills, bond and rupee loans stood at Rs.3253.2 billion at the end of August 2012, against Rs.2801.7 billion recorded in the same period of the previous year while total foreign debt rose to Rs.2995.8 billion against Rs.2257.3 billion. Thus, total outstanding government debt increased by 21.7 percent compared to end December 2011.
http://www.dailymirror.lk/business/e...-to-rise-.html
SriLankan Airlines borrows US$175 million to pay creditors
SriLankan Airlines is to get a loan of 175 million US dollars from the Mashreq Bank in the UAE to pay its creditors.
Sri Lanka's Cabinet of ministers has agreed to offer a government guarantee to the national carrier to obtain the loan, it said.
The loan comes in the wake of a plan in February this year by government to invest in a five year Treasury Bond to the value of 125 million dollars to SriLankan Airlines as equity funding.
http://www.lankabusinessonline.com/f...?nid=192333202
Sri Lanka faces rising debt burden
The total Sri Lankan government debt as at end of August 2012 stood Rs.6249 billion against Rs.5059 billion reported in the same period of 2011, amidst rising domestic and foreign debt, the latest data released by the central Bank showed.
The total domestic debt which consists of treasury bills, bond and rupee loans stood at Rs.3253.2 billion at the end of August 2012, against Rs.2801.7 billion recorded in the same period of the previous year while total foreign debt rose to Rs.2995.8 billion against Rs.2257.3 billion. Thus, total outstanding government debt increased by 21.7 percent compared to end December 2011.
http://www.dailymirror.lk/business/e...-to-rise-.html
SriLankan Airlines borrows US$175 million to pay creditors
SriLankan Airlines is to get a loan of 175 million US dollars from the Mashreq Bank in the UAE to pay its creditors.
Sri Lanka's Cabinet of ministers has agreed to offer a government guarantee to the national carrier to obtain the loan, it said.
The loan comes in the wake of a plan in February this year by government to invest in a five year Treasury Bond to the value of 125 million dollars to SriLankan Airlines as equity funding.
http://www.lankabusinessonline.com/f...?nid=192333202
Very disappointed with a SriLankan Airlines's planned Route Network via Mattala. It just like how Air India, PIA, Saudia operated in 90s.
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