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
Sri Lankan MP on hunger strike seeks bail citing daughter's mental health
-- [31 minutes ago]
Jones Lang LaSalle cements Sri Lankan presence with opening of new WTC office
-- [1 hour and 16 minutes ago]
Sri Lanka Tamil party welcomes adoption of UN resolution, urges the government to honor its commitments
-- [1 hour and 41 minutes ago]
EU continues to develop and strengthen over 40-year long partnership with Sri Lanka - Ambassador
-- [1 hour and 55 minutes ago]
Australia, World Bank launch program to enhance the trade and competitiveness potential of Sri Lanka's private sector
-- [2 hours ago]
Russia in discussions with Sri Lanka to deliver frigates, offers to set up helicopter maintenance center
-- [2 hours ago]
Arrested underworld figure 'Army Roshan' handed over to Army
-- [8 hours ago]
Government assures to take necessary measures to control dengue epidemic in Trincomalee
-- [9 hours ago]
Flemingo wins major duty free tender at Sri Lanka's Colombo Airport
-- [9 hours ago]
Sri Lanka's Prime Minister Ranil Wickremesinghe celebrates 68th birthday today

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.