Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Losses at Sri Lanka's budget airline for current financial year is estimated at Rs. 2.2 billion
Fri, Mar 7, 2014, 11:36 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 07, Colombo: The government of Sri Lanka has informed parliament that the losses incurred by the state owned budget airline, Mihin Lanka, stands at Rs. 2.2 billion for the current financial year.

Civil Aviation Minister Priyankara Jayaratne made this revelation in response to a question posed by United National Party (UNP) parliamentarian Ravi Karunanayaka.

The Minister noted that the losses incurred by Mihin Lanka for the financial year 2011/2012 were Rs. 1.9 billion and Rs. 3.2 billion last year.

Meanwhile, the airline has obtained loans amounting to Rs. 283 million.

In an abrupt move, the government Thursday appointed Nishantha Ranatunga, Secretary of Sri Lanka Cricket as the Chairman and Chief Executive Officer of Mihin Lanka with immediate effect replacing the current CEO Kapila Chandrasena.

Mihin Lanka since its inception in 2006 has recorded continuous losses and despite being declared bankrupt the government has pumped funds to keep the carrier afloat to offer air travel to Sri Lankans at reasonable rates.

ColomboPage - Recent 10 Stories
US Secretary of State John Kerry to call on Sri Lankan President, PM during visit to Colombo
-- [17 minutes ago]
Sri Lanka's Colombo Stock Exchange takes over chairmanship of SAFE
-- [41 minutes ago]
Sri Lankan President intervenes to resolve crisis over composition of Constitutional Council
-- [57 minutes ago]
Sri Lankan parliament overwhelmingly approves constitutional reforms to restore democracy
-- [1 hour and 21 minutes ago]
Sri Lanka parliament passes second reading of 19th Amendment to Constitution
-- [1 hour and 55 minutes ago]
In Pictures: Sri Lanka Army treats earthquake victims in Nepal
-- [2 hours ago]
Sri Lankan government to appoint another unit to assist probes on corruption and fraud
-- [2 hours ago]
US$ 50 million Sri Lanka Development Bonds issue oversubscribed to US$ 108.5 million
-- [3 hours ago]
Sri Lankan Buddhist organization rejects allegations leveled by former President
-- [3 hours ago]
Sri Lanka Air Force brings back 42 Sri Lankans from Nepal
-- [9 hours ago]

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.