SriLankan Airlines has engaged Lazard Freres (France) as its financial adviser and Norton Rose Fulbright (UK) as its legal adviser to navigate a complex restructuring of its 2024 bonds, valued at approximately $209 million. The move comes amid mounting financial strain on the national carrier, which has struggled with ongoing losses and rising debt obligations.
SriLankan Airlines will no longer undergo privatization, according to a decision by the Sri Lankan government to retain national ownership of the carrier. The move reverses earlier intentions to offload the state-run airline and instead pivots toward internal reform through a new management structure designed to drive profitability.
SriLankan Airlines reported a $6.6 million net loss for the seven months ending October 2024, as net traffic revenue fell 14.9% to $517.3 million. The decline reflects weaker demand and financial struggles, continuing the airline’s challenging financial trajectory.
Kapila Chandrasena, the former CEO of SriLankan Airlines, has been sanctioned by the United States for his involvement in a bribery scheme that led to the airline purchasing Airbus aircraft at inflated prices. This development marks a significant escalation in the ongoing scrutiny of corruption in international aviation procurement.
Centrum Air (Uzbekistan) has announced the launch of a new route connecting Tashkent to Colombo, Sri Lanka, starting on December 15, 2024. The flights will be operated using the airline’s modern Airbus A321neo aircraft, offering passengers an efficient and comfortable travel option between the two cities.
FitsAir, a prominent carrier from Sri Lanka, has announced the launch of a new Colombo to Thiruvananthapuramroute starting December 24, 2024. The service will be operated using Airbus A320 aircraft, marking an important step in enhancing regional connectivity between Sri Lanka and India.
Air Ceilao, a new Sri Lankan airline, has officially applied to the Civil Aviation Authority of Sri Lanka (CAA) for an Air Operator Certificate (AOC) and license to operate domestic and international charter flights. The proposed operations will focus on transporting both passengers and cargo.
