As such, Invitations to Tenders (ITTs) have been published using local and foreign media and websites, according to Minister Nimal Siripala De Silva.

The divestiture is planned to be completed through a two-stage competitive bidding process; namely RFQ (Request for Qualification) and RFP (Request for Proposals for the Proposed Transaction).

Last month, Minister De Silva, disclosed that the government intends to retain 51% of SriLankan Airlines’ shares and divest the remaining 49%.

He had mentioned that running the national carrier as a joint venture is the solution as SriLankan is in debt. The airline’s total debt amounts to USD 1.2 billion