National flag carrier in Rs.203 billion debt

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Sri Lankan Airlines has an accumulated debt of Rs. 203 billion, a senior Aviation Ministry official said.

The national flag carrier needs to pay a sum of Rs. 61 billion to the Ceylon Petroleum Corporation over the purchase of aviation jet fuel while it needs to pay a total of Rs. 53 billion to the Bank of Ceylon, Rs.41 billion to People’s Bank and has a non-state debt of 39 billion and remaining amount being funds from other entities, the official said.

Committee on Public Enterprises (COPE) Chairman Prof. Charitha Herath said the inquiry into Sri Lankan Airlines losses has been delayed to give time for the airlines to generate income during the European winter season.

The airlines will need a 1.5 billion USD target income action plan in the coming years, Timesonline learns.

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