SriLankan Airlines debt rises

SriLankan Airlines has stated that its debt rose to 64.92 billion rupees at the end of March 2016 compared to a debt of 56.92 billion rupees a year earlier. The airline said that without ‘one-off’ extraordinary payments related to restructuring activities, its group loss was 8.9 billion rupees last year, a 46% improvement aiding mainly by lower fuel costs. Revenue declined by 4% to Rs115.9bn in 2015/16 from Rs120.4bn in 2014/15. The airline said that it was impacted by a drop in fares caused by a spike in capacity to the Colombo market by other airlines, as well as the