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SriLankan Airlines #1 A350XWB aircraft bearing test registration F-WZFA spotted for the first time on Flightradar24.com.
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Travel Bloggers Confab in June
Cinnamon Hotels & Resorts together with the national carrier SriLankan Airlines are gearing up to host an incredible group of 60 travel bloggers in the country as part of the Cinnamon Travel Bloggers conference Sri Lanka- Cinnamon TBCasia from 2 to 7 June 2016. This year a novel component has been introduced, which is the Cinnamon Travel Blogger awards.
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SriLankan Airlines unable to repay US$ 1 Billion Debt
Sri Lanka's loss-making national carrier will not be able to repay its debt of nearly US$ 1 billion, Prime Minister Ranil Wickremesinghe told parliament Wednesday.
With its own finances in a rocky state, the government will decide within six weeks whether it can afford to take over SriLankan Airlines' debt repayments, the premier said.
State enterprise development minister Kabir Hashim, who oversees the carrier, earlier this month put its debt at $933 million but on Wednesday it emerged the figure could be higher.
"The minister says the actual debt is likely to be much more than what we initially feared," Wickremesinghe said during a parliamentary debate on the economy. "SriLankan Airlines will not be able to repay this debt. We will have to take a decision on this."
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CONOMYNEXT - Colossal losses that state-run SriLankan Airlines was made to suffer since ex-President Mahinda Rajapaksa chased away Emirates Airlines, and a questionable aircraft deal, is a national financial crime, Deputy Minister Eran Wickramaratne said.
SriLankan Airlines, which made profit of 4.4 billion rupees in 2008, the year in which the management agreement with Emirates Airlines ended, has lost 107 billion rupees since, then.
The Rajapaksa administration had cancelled the visa of then Chief Executive Peter Hill because he did not bump enough paying passengers to accommodate a large entourage of the President Mahinda Rajapaksa in a single aircraft, he said.
"The CEO had said 'We should not offload all these passengers since they are citizens and they are paying passengers where there is a contract'," Wickramaratne told parliament.
"The next day his visa was cancelled in 2007."
Emirates exited the airline after 2008 sold their 40 percent shares to the government.
full read http://www.economynext.com/Colossal_...-3-4571-6.htmlComment
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Suggest that those who still do not understand read this article.
-UL is not a business
-Aircraft orders have nothing whatsoever to do with the requirements of the Airline
The entire Airline is riddled with corruption and incompetence from top to bottom.
There is clear evidence of theft, fraud, abuse of power and corruption on a massive scale.
And still no investigation - just more talk.
The latest Rumour that I have heard is that there will be a shutdown and a re-start under different name. I can see it happening.Always fly a stable approach - it's the only stability you'll find this businessComment
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I agree.
The really sad thing is that none of this should have happened. This could have been a profitable Airline.
The reason I think a shutdown a restart will take place is simply because this effectively halts any investigations. This allows the Politicians, family, friends and cronies to keep their illegally obtained money.
Sri Lankan people get screwed (again) - but that's nothing new.Always fly a stable approach - it's the only stability you'll find this businessComment
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Think you could be on the money unless they commit to pump in another $1 billion USD to clear the balance sheet (as per the above link).Comment
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