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 is poised to strengthen its long-haul operations with the addition of a new A330-200 aircraft, serial 1261, powered by Trent 772B-60 engines. This strategic fleet enhancement is scheduled to join the airline’s operations on 04 June 2025 and is aimed at boosting capacity on high-demand international routes.
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 CEO Richard Nuttall is exploring refinancing options to restructure the airline’s debt, which would serve as a preliminary step before any A330 fleet renewal. The carrier is also considering doubling its total fleet size to 50 aircraft, signaling a potential long-term expansion strategy.
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.
SriLankan Airlines has announced plans to resume direct flights between Colombo and Beijing Capital International Airport, starting July 2, 2025. The service will be operated using the airline’s Airbus A330-200, providing enhanced connectivity between Sri Lanka and China.
SriLankan Airlines has embarked on a strategic five-year corporate plan to rejuvenate its operations, positioning itself for a stronger future in the aviation industry. As part of this revitalization, the airline has expanded its fleet to 25 aircraftby early 2025, with ambitions to reach a total of 27 aircraft in the coming months. The addition of three new aircraft highlights…
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.
