Investors did not evince interest in SriLankan Airlines, says Minister

No suitable investors have expressed interest in acquiring a stake in SriLankan Airlines as the strategy focuses on restructuring rather than selling it outright, said Mr Nimal Siripala de Silva, Ports, Shipping and Aviation Minister. Under Sri Lankan law, only 49% of the airline’s shares can be transferred, but there has been minimal global interest, with only six turning up, none of whom were suitable. Even Sri Lankan entrepreneurs would need to prove their capability. In addition to airline restructuring, he revealed that the management of the financially troubled Mattala Airport will soon be handled by a joint venture between Russia and India, said a report.