Government Delays SriLankan Airlines Sale for Third Time

COLOMBO (News 1st);  In a bid to attract a broader range of potential investors, the Sri Lankan government has once again extended the deadline for submitting proposals for the acquisition of SriLankan Airlines. 

The new deadline is now February 16th, 2024, marking the third extension since the privatization process began.

This announcement comes from KDS Ruwanchandra, Secretary of the Ministry of Ports, Shipping and Aviation. 

He stated that the extension was decided upon "with the aim of giving more people the opportunity to submit proposals." 

The initial deadline for expressions of interest was December 5th, 2023. 

It was subsequently extended to December 18th, and then again to January 9th, 2024.

The privatization of SriLankan Airlines is a crucial element of the government's economic reform plan. 

The national carrier has faced significant financial difficulties in recent years, prompting the government to explore various options to ensure its sustainability and long-term viability.