SriLankan Airlines increased its losses by 24% in 2014 reports ColomboPage, with the company losing Rs. 32.4 billion last year.
In annual reports submitted to parliament, the government owned company stated that mandatory aircraft modifications and an increase in finance expenses led to the loss, up from Rs. 26.1 billion in 2013.
Over the last year the Sri Lankan government had provided several sources of funding for the struggling airline, committing an investment of Rs. 19.6 billion (US$ 147.5 million) and a further a US$ 150 million bank facility.
In 2015, a further investment of US$ 500 million was planned.
See our earlier post:
Sri Lankan state enterprises lose billions of rupees (14 Nov 2014)
We need your support
Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.
Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view
We need your support in keeping our journalism going. Support our work today.
For more ways to donate visit https://donate.tamilguardian.com.
