SriLankan Airlines losses expected to be heavy

Victoria
By Victoria February 23, 2012 15:46

SriLankan Airlines losses expected to be heavy


Losses at SriLankan Airlines are expected to rise sharply this year, and the country’s national carrier intends to reduce flights to London and divert most of them to China, beginning April. The state-owned airline is also considering leasing some of its 13 slots at London’s Heathrow airport to recoup part of its losses.  Losses for the year ending March 31, 2012 are expected to exceed the budgeted loss of Rs8.3 billion (about US$70 million).  The reason – Fuel prices rose by as much as 49% in Sri Lanka last week on a range of products, triggering countrywide protests.

Victoria
By Victoria February 23, 2012 15:46
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