The restructuring process of debt-ridden- national carrier Sri Lankan Airlines is to commence this week with the Ministry of Ports, Shipping and Aviation having decided to call for local and international tenders, a senior Minister said.
Minister of Ports, Shipping and Aviation Nimal Siripala said that they have prepared advertisements in both local and international newspapers calling for tender bids in this regard.
The Minister further added that the cabinet had approved the decision to restructure the state-owned Sri Lankan Airlines as it continues to record losses worth billions.
“Under the restructuring process, the State would own 51 per cent of shares of the Airlines while the bidders are able to obtain 49 per cent of share”, the Minister noted.
Sri Lanka’s apparel industry has expressed concern over the Reciprocal Tariff policy announced by the U.S government today saying the new tariffs could significantly disrupt the country’s largest export sector and put thousands of jobs at risk.
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