The previous deadline was 5 December 2023 and the extension was following requests for more time by interested parties.

As per the SOE Restructuring Unit (SRU), the RfQ process for the sale of a majority stake in Sri Lankan Airlines will be in February next year and bid submission is slated for April and issuance of Letter of Intent in May.

World Bank Group’s International Finance Corporation is the lead advisor and IFC experts from Singapore, Thailand, Spain and Pakistan are involved.

The prospective bidders must prove that it satisfies the Technical, Financial and Legal Qualification Criteria to participate in the bidding process.

The Government intends to sell SriLankan Airlines as a whole, including the profitable catering unit.

The Government is also in the process of restructuring and/or removing debts/liabilities of the national carrier.

Overall liabilities of SriLankan Group crossed the Rs. 700 billion mark to Rs. 705.6 billion in FY23 from Rs. 609 billion in the previous year.