Parliament, May 08 (The reporter) – Civil Aviation Minister Nimal Siripala de Silva informed Parliament today that no airline globally is currently turning a profit, a challenge shared across the industry.
In his address, the Minister highlighted that even airlines from wealthy nations like Air India, BOAC, and Swiss Airlines are operating at a loss, with some having been divested.
In response to a query from SJB MP Hesha Vithanage, noted that Air India was acquired by Tata due to financial challenges, while Emirates receives substantial government support annually, estimated at USD 2 to 3 billion.
The Minister emphasized that a small nation like Sri Lanka lacks the resources to sustain an airline independently, opting instead to lease aircraft rather than make large capital investments. He stressed the importance of strategic partnerships with entities capable of injecting significant capital to secure jobs for the airline’s 6,000 employees.
MP Vithanage highlighted a significant recruitment drive in 2023, with 791 employees joining SriLankan Airlines, despite the airline reporting a loss of Rs. 609 billion by the end of the same year.
In response, the Minister explained that this recruitment surge followed the resignation of 474 employees the previous year.
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