SriLankan targets profit in excess of USD 50 Mn | Daily News

SriLankan targets profit in excess of USD 50 Mn

SriLanka Airlines is looking at earning a profit in the excess of USD 50 million in 2023/24 said Chief Commercial Officer SriLankan Richard Nuttall. (Pictured)

In an interview with Channel News Asia he said that though the airline made a loss in the previous financial year the outlook for next year is stronger and the airline would make profits.

“We had travel advisories while the country ran out of jet fuel in July and August. I have never worked for an airline which does not have jet fuel in its home country before,” he said.

He said he expected the Sri Lanka economy to rebound, and arrivals to pick up and the global geo politics and natural disasters (like C-19) would not occur again.

‘In this backdrop the airline will make a profit of USD 50 million next year.’

The airline is listed among 52 loss making state entities and the International Monetary Fund had recommended for restructuring and President Ranil Wickremesinghe is embarking to restructure the airline.

Nuttall said though the currency depreciation did not have any impact on the profitability last year, the country’s short supply of jet fuel hurt the airline.

Add new comment