SriLankan Airlines formulates new 5-year Strategic Business Plan

SriLankan Airlines has formulated a new five- year Strategic Business Plan for the period 2019-24 with the objective of transforming itself into a financially viable organisation airline group with high brand visibility and a global reputation for excellence.

In a media release on Thursday, the airline said the Strategic Business Plan, prepared by the airline management under the guidance of its CEO and the Board “recognises the enormous contribution of the national carrier to the GDP of Sri Lanka in many different areas, including all export, import and leisure and envisages a corresponding increased contribution to the nation’s economy as the airline grows”.

CEO Vipula Gunatilleka said that having a sound strategy plan is important to any business and a business without a strategic plan is like a ship without a radar. “Irrespective of the challenges the national carrier encounter, the business must go on and hence it is important to have a clear vision and clear strategies if the airline is to become a financially viable entity. The Strategic Business Plan is to be presented for approval to the company’s shareholder, the Government of Sri Lanka,” he said.

A key aspect of the plan includes developing a route network to match customer demand and market opportunities, including new destinations in Europe, Africa, West Asia, South Asia, the Far East and Australia, as opposed to the current limited point-to-point strategy. It also focuses on selecting a fleet that is cost effective and best matches the requirements of the route network; enhancing the customer experience by improving customer-centricity throughout the airline; adopting best practices to improve productivity; growing online sales to reach a wider market in a more cost effective manner; greater employee engagement; and implementing a competitive cost structure through a greater cost consciousness throughout the company.

The Strategic Business Plan also calls for the strengthening of the route network through codeshare partnerships and alliances, especially by optimising opportunities with oneworld member airlines.

The national carrier has been plagued by debt and political meddling in previous years and recovering from this crisis.