SRI LANKAN AIRLINES AND MIHIN LANKA REDUCES LOSSES

Sri Lankan Airlines managed to sharply reduce losses in 2010 as revenue rose with a recovery in air travel and the end of a war increased tourist arrivals. The national carrier made an operating loss of 6,272 million rupees in 2010, down 49% from the previous year, according to the central bank. Revenue increased by 26.3% to 67,835 million rupees while the airline’s operating cost increased by 12.4% to 74,107 million rupees. “The increase in revenue and the implementation of stringent cost control measures contributed to the reduction of the operating loss of Sri Lankan Airlines,” the central bank said