Sri Lankan Airlines and Mihin Lanka report losses

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By TESTCustomwebLP TESTCustomwebLP April 11, 2014 22:44

Sri Lankan Airlines and Mihin Lanka report losses

State-run Sri Lankan Airlines and Mihin Lanka have lost 30.1 billion rupees ($230 million) in 2013. SriLankan Airlines made a loss of 28.6 billion rupees and state-run budget airline Mihin Lanka made another loss of 1.5 billion rupees, up from a billion rupees a year earlier. The airlines have lost 89.9 billion rupees in total over the past five years.

Revenue rose in 2013 however by 2.9% to 109.5 billion rupees but operating expenses rose 5.1% to 138.1 billion rupees. The main cost increase was from fuel, while yields suffered from the recession in Europe and increased competition.

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By TESTCustomwebLP TESTCustomwebLP April 11, 2014 22:44
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