SriLankan Airlines reduces loss

Default, IATA — By on October 25, 2011 at 1:35 pm

SriLankan Airlines has cut its net losses to Rs 202 million (US$1.8 million) in the 2010/11 financial year from Rs 6 billion ($54.5 million) a year earlier. Its cost-cutting programme means the carrier can speed towards enhancing its cargo subsidiary’s global network and hub operation, increasing its aircraft fleet and developing ground-handling facilities at Bandaranaike International Airport.
The government has approved $500 million investment for the development of SriLankan Airlines over the next five years. β€œThe overall objectives in the year ahead will be to increase revenue through high-yielding business activities and bring SriLankan Airlines’ financial performance to a level of profitability,” Kapila Chandrasena, the airline’s chief executive, said

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