Sunday, February 25, 2018 06:30:06 AM

INFOGRAPHIC: Paying the price for past extravagance

By Groundviews - Fri Oct 07, 6:26 am

This week, it was announced that Sri Lanka would be paying as much as USD 170 million (Rs. 25 billion) to aircraft leasing company AerCap Holdings, in order to cancel the purchase of 4 A350 aircraft.

The aircraft had been purchased by the previous Government.

The announcement came at the same time as Sri Lanka decided to discontinue budget airline Mihin Lanka, as part of a restructuring plan.

Sri Lankan Airlines have languished in debt for years – the last time it made a profit was reportedly in 2009, one year after Emirates sold its stake in the national carrier. Most recently, it reported a net loss of Rs. 16….

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