“New board for SriLankan Airlines”
With reference to the story in last week’s Business Times on the appointment of a new board of directors to SriLankan Airlines, my view is that appointing a new board will not resolve the existing problems of the airline. Spending time and funds on restructuring will be a waste if we are looking for foreign investors with a 49 per cent stake. The Indian Government recently decided to sell Indian Airlines to investors by transferring 76 per cent of its shares. This is a good move to attract foreign and local investors. After all who will want to invest 49 per cent and leave control in the hands of local politicians? The government too should arrange to sell at least 70 per cent to private sector investors so that they would be happy to take control and run it efficiently, managing by themselves than our political appointees, mostly failed politicians.
The management of state enterprises by politically-appointed persons has failed totally and taking that lesson we must now reform by handing them over to professionals whose talents are wasted now without being used for the country’s development. In respect of the balance 30 per cent of SriLankan Airlines owned by the state, only ex-officio members of the Treasury, Finance Ministry and the Ministry of Public enterprises should be appointed with clear responsibilities and no politicians to be appointed under any circumstances. Secondly, as done by the Indian government we too should retain all existing unsettled liabilities of SriLankan Airlines with the national carrier itself so that the new company will be able to plan their operations more efficiently without worrying about the old debts.
Mahinda Wimalasena, Kiribathgoda