Sri Lanka’s airline fails to get bids
Posted on January 22nd, 2017

Courtesy The Peninsular Qatar’s Daily Newspaper

Colombo: Sri Lanka has failed to attract bids from international airlines to privatise its loss-making flag carrier, but will continue its efforts to salvage the company, a minister said yesterday.

The government received nine offers but none were from a major international airline operator, State Enterprise Development Minister Kabir Hashim said.

Of the proposals received, the government has shortlisted three, including one from TPG, a San Francisco-based private equity firm.

Hashim is heading a new three-member ministerial panel to decide the future of Sri Lankan which has debts and accumulated losses of over $2bn.
Sri Lankan was profitable before Rajapakse cancelled a management agreement with Emirates in 2008 following a personal dispute.

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