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The gov may be looking to rename it, Mihin kind of reminds of Mahinda and they may replace the Lotus symbol as well
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I doubt it for now, But having a private shareholder may help MJ operate as a company that aims to make profit.
The gov may be looking to rename it, Mihin kind of reminds of Mahinda and they may replace the Lotus symbol as well -
Well the 2x A320NEOs for MJ were confirmed a while back AFAIK. As to the other information, good news if its true. In fact the government should sell a shareholding in the whole of UL to DP or another private investor who can turn it around.Comment
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When you assume control of an Airline you become responsible for all the liabilities (debts) as well. This includes past and future liabilities.
Both UL and MJ have run up huge debts and are not anywhere close to being profitable. Future liabilities are anyone's guess - but I'm sure that it once again involves large amounts of money.
There is no business case for either of these companies - no investor is going to step in because of the huge liabilities.
Both companies are insolvent (bankrupt) - they only operate because the government has kept putting money in to keep things running.
They've already tried to sell UL to EK and QR - an indication of how dire the financial situation really is.Always fly a stable approach - it's the only stability you'll find this businessComment
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Always fly a stable approach - it's the only stability you'll find this businessComment
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Who is that Mr.Dhammika Perara ? Rumour has he is interested in buying MJ. I wish they make MJ's name and livery to be changed and best alternative name for Mihin Lanka is "SriLankan airtaxi" with exotic livery. New brand should have the proper LCC Model.Comment
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Dhammika Perera is a Sri Lankan businessman. Currently the richest person in Sri Lanka, he is the founding Chairman and Managing Director of Vallibel One Group, which is a holding company with investments in financial services, tile and sanitary ware manufacturing, and leisure sectors through its subsidiaries L B Finance PLC, Royal Ceramics Lanka PLC group and Greener Waters Ltd. It holds a 14.99% stake in Sampath Bank PLC.
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Dhammaika was BOI chairman too under MR's regime.
He must have enough money to buy MJ and he may do it for Mahinda.(MJ was his baby)
BTW I want to see Mihin named as Srilankan ExpressComment
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EK in particular is very unlikely to touch UL with a 10 feet pole. STC specially mentioned UL as an example of a failed partnership during the recent press conference he had in defense of EK's position in the US3 Vs. ME3 battle.
I think in the business world, it is naive to say 'never', but EK may not be the suitor for UL.
EY on the other hand has a precedence of acquiring struggling carriers and trying to turn them around. But, then again, what has UL got to offer to make itself attractive to any buyer?Comment
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That will dilute the UL brand further. Look at what Air India Express has done to Air India. Not that AI had much of a brand to start with, nevertheless!
MJ will be better off being absorbed in to UL.
The concept of budget airlines has been a good one, but in my opinion it is passed its prime in Asia.Comment
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I think you should read this interview with him. The introduction explains him
"His business acumen is spot on. He is quick to identify an opportunity regardless of the economic environment. His strength is numbers where any company that fits his business model would soon be molded into success. Dhammika Perera is a prominent figure in the Sri Lankan business landscape. Unknown to many He is the wielding hand behind a plethora of companies in the country. Many of his acquisitions are successes and his reach has spread across sectors. Since 1999 He has awakened the sleeping giants of corporate Sri Lanka. He is proving that the impossible is possible!"
By Udeshi Amarasinghe | Photography Menaka Aravinda and Mahesh Bandara
Last edited by Godofpower; 21-09-2015, 05:54 PM.Comment
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Fly Colombo
A Symbol of FreedomComment
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Hi digitalairliners & skyliners - Do you have any update about SriLankan's fifth A330-343E (MSN 1669) ? this aircraft was received a test rego as F-WWCO and to become 4R-ALP. Wondering if this is 242t mtow, whether engines been fitted and aircraft fully painted. It hasn't done the test flight so far if i am not mistaken.Comment
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