Sri Lanka Aviation

Words fail me......

hahahaha.....y'all voted for a change......the only thing that changed are the thieves. I love this political circus.

Well I am not sure who you are referring y'all...but sure I did not vote for any of them...so did you vote for the previous Ali Baba

Yes they should sell the whole lot including UL...But I am not sure if they can find a buyer for the 2 airlines....They should decouple AASL specially CMB, RML, JAF and HRI. government should not be doing any business...let the private industry manage it (like the telecom industry). If they did not decouple and sell off AASL; Sri Lanka is in danger of powerful unions holding the whole airline industry hostage...it has happened few months backs...already due to union demands CMB is the most expensive airport in South Asia for landing and take offs.

Yes your prediction are fairly accurate...My only question is...even for the present government or for the future government...how long can they go on borrowing money

So the army of relatives and their army of friends is better?

Govt is planning on selling them in the CSE. So they aren't searching for buyers but offering them for everyone. The same thing can be done for Mihin but selling an airline will not go well with our patriotic population

Here's an article that gives some insight into the state of the Sri Lankan economy.

http://www.eturbonews.com/65919/sril...-stop-bleeding

In simple terms the GOSL will run out of money next year - and they have huge debts/loans that they have no way of ever repaying.

There are some documentaries on YouTube detailing the financial collapse in Argentina and Greece - worth watching to give you an idea what is coming.

As for selling UL:-

There is so much debt that this is impossible. Also there are huge future financial obligations associated with the new aircraft deal - no idea where this money will come from.

The Airline is riddled with corruption and incompetence from top to bottom - nobody is prepared to do anything about it.

There is also no conceivable way that this will ever make money - cutting routes will reduce the losses but that's all.

Nobody is stupid enough to buy this - I doubt it could even be sold for Rs 1!

Any talk of selling is just that - talk imho.

As for listing this on the CSE

I don't know how the CSE works but on the stock exchanges I'm familiar with a company has to show 3 consecutive years of profits before they can have an IPO.

The Weliamuna Commission report clearly states that UL is insolvent - it operates only because the GOSL keeps giving them money.

Can't see this ever happening - more talk.


The real tragedy is that this could all have been avoided.

The tragedy can be avoided because we avoided it back in the early 2000s. The same can be done now.

The difference is in 2000s UL did have a $billion debt

We have far too labor friendly laws in SL, MJ is still being retained.... Part of UL restructuring needs to have some serious blood letting..... there is way too much resources in UL (5000 per aircraft????). MJ just needs to be terminated.

All we see is a plan to integrate MJ to UL (of which nothing has come about now). Letting staff go is a concept that government entities in SL haven't heard of... or just too unpopular with the voters....

oh please Ali baba is his darling. LOL.

Dear All,

I have deleted some posts which gives un-neccesary arguments between members of the forum.

"Comment on content, not on the contributor. Personal attacks do not help make a point; they only hurt the Air Sri Lanka community and discouraging users from helping to create a good forum..."

Thank you
Moderator

Come on Banuthev don't be so serious. We are not children here all should know what means "Humour" .

This is second time this has happened to one my posts for no reason. I hope this will not continue from your side.

Here's another article that disagrees.



Forgets to mention the commissions associated with these deals. Some people have walked away with tens of millions $$$$.