SriLankan Airlines Draws Interest from Sixteen Entities in Privatization Bid

Sixteen potential bidders have shown keen interest in participating in the partial privatization of SriLankan Airlines, as reported by local weekly The Sunday Times. The Sri Lankan government’s initiative to divest a majority stake in the national carrier has attracted submissions in the first phase of the bidding process, with the request for qualification (RFQ) deadline drawing near.

Among the notable entities expressing interest are Etihad Airways, Emirates, and India’s Adani Group, according to government sources cited by The Sunday Times. While Tata Sons, previously rumored to be considering a stake, did not submit an RFQ, the CEO of Tata Sons-owned Air India has publicly stated a lack of interest in the airline.

Emirates, which once held a significant stake in SriLankan Airlines and managed its day-to-day operations before divesting in 2010, is reportedly among the entities eyeing a shareholding in the carrier. The International Finance Corporation (IFC), a member of the World Bank Group and the Sri Lankan government’s advisor on the privatization, is working to narrow down the potential bidders to create a shortlist for the second phase of the bidding process.

The State Restructuring Unit (SRU) of Sri Lanka, responsible for overseeing the partial privatization, is set to provide updates on the shortlisted entities once the evaluation of RFQ submissions is complete. The move to privatize SriLankan Airlines marks a significant step in reshaping the future of the national carrier and introducing strategic partnerships to enhance its operations and sustainability in the aviation market.