The Government is expecting to complete the restructuring of the defaulted debt of SriLankan Airlines this month, Deputy Minister of Ports and Civil Aviation Janitha Kodituwakku said.
The Deputy Minister told Daily Mirror that it is not feasible at all to seek any form of partnership with the private sector to develop the national carrier due to its current liabilities.
“We have a huge debt component. The entire fleet has been taken on lease. Who will purchase the airline with such a large volume of debts,” he said.
However, he ruled out the need to privatise the airline once restructuring is done.
“We can run it profitably after debt restructuring. We will think of the next business model only then ” he said. (Daily Mirror)
