SriLankan Airlines losses for 2021-22 were Rs. 163 billion

National carrier SriLankan Airlines (the group) has recorded a net loss of Rs.163.58 billion for the 2021-2022 financial year, sharply up from Rs.49.70 billion reported in the previous financial year, according to latest available data.

However the group reported an operating profit before finance charges and exchange losses of Rs.1.69 billion for the financial year against an operating loss of Rs.8.12 billion in 2019-20.

“As the passenger demand began to return in the second half of the year, we launched a new business strategy aimed at returning the airline to profitability within twelve months period whilst restoring operational integrity. As part of this initiative, we focused our capacity deployment on the most profitable markets and added services to new high potential markets. At the same time, we continued to fulfil our duty to the economy of Sri Lanka by maintaining uninterrupted connectivity to the key inbound tourism source markets,” said airline chairman Ashok Pathirage in his annual review.

The new passenger destinations launched during the period include Frankfurt in Germany, Kathmandu in Nepal, Paris in France, Seoul in South Korea and Sydney in Australia. All these new passenger destinations have gained popularity and demand from our travellers including contributing to the increasing tourist arrivals in Sri Lanka, he said.

The national carrier has said it hopes to report operating profits for the last financial year – 2022-2023 (end March).