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AASL reports 57% increase in revenue

From January 1 to September 30, 2023, the Airport & Aviation Services (Sri Lanka) (Pvt) Limited (AASL) reported a gross revenue of Rs. 28.5 billion, a phenomenal 57% increase.

An operational profit of Rs. 15.9 billion was also recorded during the same period and many attributed this to the leadership of AASL Chairman, Major General (Rtd) G. A. Chandrasiri.

Under his guidance, several key projects have come to fruition, solidifying Sri Lanka’s position in the global aviation arena. Bandaranaike International Airport (BIA), the country’s primary international gateway, witnessed strategic enhancements, ensuring a seamless travel experience for passengers.

Mattala Rajapaksa International Airport (MRIA) also underwent transformative developments, reflecting his commitment to comprehensive airport management.

The Colombo International Airport, Ratmalana, Batticaloa International Airport, and Jaffna International Airport have all benefited from his visionary leadership, positioning them for sustained growth and efficiency.

Appointed as the Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited in December 2019, Major General Chandrasiri has steered the organisation through unprecedented times, leaving an indelible mark on the Sri Lankan aviation landscape.

Over the past four years, he has played a pivotal role in the development of the aviation industry, providing unwavering leadership to the Airport and Aviation Services Sri Lanka Limited.

This fully government-owned company, bestowed with statutory powers, manages and develops civil international airports in Sri Lanka, including the Bandaranaike International Airport (BIA), Mattala Rajapaksa International Airport (MRIA), Colombo International Airport, Ratmalana (CIAR), Batticaloa International Airport (BTIA), and Jaffna International Airport (JIA).

Throughout the pandemic and the subsequent recovery period, he guided the company to fulfill its national responsibilities with integrity. Under his adept stewardship, the company not only weathered the storm but also achieved remarkable financial milestones.

The prudent leadership with highest integrity and strategic decision-making, coupled with meticulous financial discipline, has catapulted Airport and Aviation Services Sri Lanka Limited to new heights.

Looking ahead, Major General Chandrasiri envisions a future marked by innovation and progress. The strategic roadmap includes further modernisation of airport facilities, implementation of cutting-edge technologies, and a focus on sustainability initiatives.

There are six key ongoing projects which will help the Sri Lanka aviation sector to reach the next level. These six projects are:

1. Construction of the Import Cargo Terminal Building at Bandaranaike International Airport, Katunayake – Stage I: This ambitious project is set to fortify the cargo-handling capabilities of the airport, ensuring efficient and secure import operations.

2. Identified protective works in MTB, Pier 2 & Pier 3 at BIADP Phase II Stage 2: Protective measures for critical areas within the Bandaranaike International Airport Development Project Phase II Stage 2, safeguarding infrastructure and ensuring long-term sustainability.

3. Bonded warehouse for electronic mall at Bandaranaike International Airport, Katunayake: A forward-looking initiative catering to the growing demands of the electronic commerce sector, fostering a dynamic business environment at the airport.

4. Design, Supply, and Installation of Self-Supporting Communication Tower for Radar and Communication Engineering Centre at Pidurutalagala: A technological advancement aimed at enhancing radar and communication capabilities, ensuring seamless air traffic control.

5. Balance Work of Access Road to HF Receiving Station at Kandapola: Critical infrastructure development to improve accessibility to the HF Receiving Station at Kandapola, essential for maintaining communication reliability.

6. Refurbishment of Washrooms at Terminal and Pier Building – BIA, Katunayake: A commitment to passenger comfort and satisfaction through the enhancement of washroom facilities, aligning with global standards of service.

These initiatives, ranging from advanced communication infrastructure to modern cargo facilities, are integral components of a comprehensive strategy aimed at propelling our nation’s aviation capabilities to new heights.

AASL demonstrated its commitment to corporate responsibility by significantly contributing to the national exchequer through dividends provided to the government of Sri Lanka.

This underscores the company’s role as a responsible corporate citizen actively participating in the economic development of the country.

For example, in 2023, AASL paid Rs. 5 billion in the form of dividends to the government of Sri Lanka. AASL continued to maintain the 4000 employees of AASL during the period of global pandemic and the economic crisis despite the challenges.

Bandaranaike International Airport and Mattala Rajapaksa International Airport played a pivotal role in facilitating the repatriation flight movements and bringing in medical aids and vaccine programs.

In an inspiring display of corporate social responsibility, AASL made significant contributions to the country’s fight against the pandemic.

A donation of Rs. 10 million to the Covid-19 Healthcare and Social Security Fund, comprising the days’ worth of salary from the Chairman, Board of Directors, and Employees of AASL, exemplified their commitment to the national cause.

The ability to adapt, innovate, and implement effective financial discipline played a crucial role in the company’s resurgence.

In a striking display of corporate responsibility, AASL not only achieved financial success but also contributed significantly to the national exchequer.

The dividends provided to the government of Sri Lanka underscore the company’s commitment to being a responsible corporate citizen, actively participating in the country’s economic development.

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