Sri Lankan treasury to bear SriLankan Airlines’ part-debt

Sri Lanka’s aviation minister, Nimal Siripala De Silva has hinted at the restructuring and sale of SriLankan Airlines, according to sources. Multinational finance advisory Lazard is helping to prepare EOI documents regarding the sale of the airline and its subsidiaries. The government is expected participation from other international advisors and banks soon. Speaking at Sri Lanka’s parliament Siripala said: “The airline is expecting to raise $500 million from the sale of its ground handling and catering subsidiaries. This would cover less than half of SriLankan Airline’s debt. The rest of the debt will have to be borne by the Treasury.”