Thursday, 02 November 2023 06:13

Government calls bids for divestiture of SriLankan Airlines Featured

The government has called for bids for the divestiture of the debt-ridden national carrier SriLankan Airlines, Minister of Ports, Shipping & Aviation says.

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

 

 

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