The financial crisis facing SriLankan Airlines including excessive flight delays, the burden of debt, and procurement delays in acquiring new aircraft was discussed by the Sectoral Oversight Committee on Infrastructure and Strategic Development.
These issues were addressed when the Committee met recently in Parliament, under the chairmanship of Member of Parliament S. M. Marikkar. It was discussed at the committee that although SriLankan Airlines currently possesses a fleet of 23 aircraft, this number is insufficient. Furthermore, the fact that these aircraft are approximately 12 years old has led to technical faults and delays affecting flight operations.
The committee also focused on the failure of previous procurement processes intended for acquiring aircraft, as well as the significant delays associated with those attempts.
Plans are in place to expand the fleet under new procurement guidelines, with the expectation of adding one narrow-body aircraft and two wide-body aircraft to the fleet by this coming June.
SriLankan Airlines officials noted that a key target of their five-year plan is to increase the fleet size to at least 29 aircraft by 2029.
It was further explained that the General Treasury has taken measures including the assumption of responsibility for outstanding bank loans and bond obligations to improve the financial position of SriLankan Airlines. It was also mentioned that the committee appointed by the government to restructure SriLankan Airlines is considering various options, including securing new investors, establishing a public-private partnership, or bringing the airline to a break-even point while maintaining it under government control.