SriLankan Airlines claims turning profitable

SriLankan Airlines aims to expand its services as it targets breakeven next year following the announcement of profits for the first time this year and plans to “go it alone.”

The airline’s Chairman Ashok Pathirage speaking with the media on Tuesday said that they want to expand their existing fleet of 24 aircrafts with about 10-20 second hand aircraft over a period of three years. This is currently a key concern for the airline that will have to purchase aircraft once they open up to other destinations as well, it was noted.

Having already carried out debt restructuring the airline hopes to break-even next year as they are turning profitable, he said.

In this respect, the national carrier would be able to not depend on government support since “we can do it alone,” Mr. Pathirage said.

This was possible following the opening up of new routes to Paris, Moscow, Sydney and Frankfurt, the Chairman said pointing out that their financials have proven that they have done well. “We made money,” he said noting that this was clearly evident in the financials already released for last year and January 2022.

He also spoke of the oil price volatility and noted that when required they would be compelled to increase airfares but for now they would wait and watch the situation. Prices of global crude oil continued to increase this week as well following the embargo placed on fuel purchases from Russia by the US and partial ban by the EU.

Meanwhile, the national carrier continues to operate to Moscow and believes that with while other airlines are pulling out they will be able to generate increased demand and Mr. Pathirage pointed out that tourists continued to arrive from this market. With few airlines operating SriLankan Airlines will be able to provide air travel to those wanting to travel elsewhere as well, he noted.