SriLankan Airlines Stake Sale Postponed Until After Presidential Election

The Sri Lankan government has decided to delay the sale of a stake in SriLankan Airlines (UL) until after the forthcoming presidential election, scheduled for September 21, 2024. This decision comes after the initial plans to divest a 51% stake in the national carrier were abandoned when none of the six interested parties met the government’s criteria.

Following the cancellation of the initial sale process, officials confirmed their intention to continue with the divestiture but will now develop a new strategy for selling the stake. The Minister responsible for SriLankan Airlines, Nimal Siripala de Silva, has expressed intentions to restructure the airline, though specific details of the proposed restructuring have yet to be disclosed.

SriLankan Airlines currently operates flights to 37 airports across 21 countries with a fleet of 22 aircraft. The fleet includes seven A320-200s, two A320-200Ns, four A321-200Ns, two A330-200s, and seven A330-300s. The decision to postpone the sale reflects the government’s strategic recalibration in light of the upcoming electoral milestone, aiming to ensure stability and prepare a more favorable environment for future negotiations.

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com