Sri Lanka’s aviation industry on recovery mode
Sri Lanka’s recovery rate is above average in Asia with passenger traffic reaching 71 per cent, the International Air Transport Association (IATA) stated on Thursday at the Sri Lanka Aviation Day event held in Katunayake.
By April the Sri Lankan passenger numbers reached 71 per cent with expectations that by 2025 it will be able to reach pre-pandemic levels, the global aviation body’s Regional Vice President Philip Goh said.
The aviation sector has contributed 9 per cent of the GDP of Sri Lanka contributing US$30 billion, it was noted.
He noted that the government needs to work in collaboration with aviation stakeholders to establish a blueprint and shape the growth of the aviation industry in Sri Lanka. In this respect, Mr. Goh explained that the government needs to embark on a consultative approach with airlines because that is the way growth can be achieved.
He also highlighted that the country’s jet fuel prices were higher when compared with other airports and noted that this could have an adverse impact and added that authorities need to review and consider further lowering prices.
Aviation Minister Nimal Siripala De Silva addressing the media on the sidelines of the event said that they had amended a number of laws in a bid to ensure that the aviation industry could function better.
He noted that one such instance was to amend the Act to ensure that the Ceylon Petroleum Corporation (CPC) will no longer exercise a monopoly over the pricing of jet fuel.
In this respect, they had selected one private company following a tender process to sell jet fuel in Sri Lanka for which a 24,000 MT container has been allocated to store this fuel.
Meanwhile, the minister said that SriLankan Airlines, the national carrier, will be able to find an investor in six months as part of selling 49 per cent of the shares of the company and carry out necessary restructuring as recommended by IFC.
Moreover, the airline is trying to ensure that the five grounded engines of the carrier will be repaired soon and thereafter allow the airline to expand its destination base and be able to cater to the next tourist season.
The e-gates tender process will get underway in January next year and the e-passport system will also be in place next year, Minister De Silva said.
The BIA will recommence work on its second terminal once the debt restructuring process is completed in September, the Minister said adding that they had received this reassurance from the Japanese Ambassador and the Japan International Corporation Agency (JICA).
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