Sri­lankan says achieved record rev­enue for FY2017/18

„Says pas­sen­ger rev­enue tops US $ 830mn „High­est ever rev­enue in its 38-year his­tory „Group rev­enue ex­ceeds US $ 1bn

Daily Mirror (Sri Lanka) - - LATE CITY -

Na­tional car­rier Sri­lankan Air­lines yes­ter­day said it achieved a record unau­dited an­nual pas­sen­ger rev­enue of Rs.126.9 bil­lion (US $ 830.7 mil­lion) for the FY2017/18 ended this March.

The air­line said this was the high­est ever rev­enue in its 38-year his­tory.

The rev­enue comes on the back of the re­cent ex­pan­sion of the air­line to in­clude ser­vices to sev­eral new des­ti­na­tions such as Gan Is­lands, Hyderabad and Mel­bourne and ad­di­tional fre­quen­cies to pop­u­lar cities in its net­work.

Mean­while, the air­line’s cargo divi­sion also achieved Rs.14.7 bil­lion rev­enue for the year under re­view.

The air­line said the group rev­enue for the year, which in­cludes pas­sen­ger op­er­a­tions, cargo op­er­a­tions and ground han­dling ser­vices, topped US $ 1 bil­lion, be­com­ing one of a hand­ful of lo­cal com­pa­nies to achieve the bil­lion-dol­lar mark.

Sri­lankan said all three busi­ness di­vi­sions ex­ceeded the rev­enue tar­gets set at the be­gin­ning of the year.

“This is the first in­stance of the air­line achiev­ing its an­nual rev­enue tar­get since Emi­rates Air­line left as the man­ag­ing part­ner 10 years ago,” Sri­lankan CEO Suren Rat­watte said.

“With a new chair­man and board of di­rec­tors in place, I am cer­tain that the air­line will reach greater heights in the near fu­ture as we con­cen­trate on cur­tail­ing our costs.”

The year has been one of trans­for­ma­tion for Sri­lankan, in which it in­ducted four brand-new fuel-ef­fi­cient nar­row-bod­ied air­craft to the fleet – in the process of be­com­ing the first A321­neo air­craft op­er­a­tor in Asia.

It has also made sig­nif­i­cant im­prove­ments to the on-board ser­vice, in­clud­ing of­fer­ing flat-bed Busi­ness Class seats on all wide­bod­ied air­craft and Wi-fi ser­vices on nearly half of its fleet.

Dur­ing a re­cent press con­fer­ence held to in­tro­duce the new Sri­lankan board headed by se­nior banker Ran­jit Fer­nando, it was re­vealed the bud­get loss for the year under re­view was be­tween US $ 140-160 mil­lion.

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