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Tourism boom? Bailout to save state-owned airlines making ‘record losses’

President Mahinda Rajapaksa has announced in his budget speech to parliament that state-owned airlines SriLankan and Mihin Lanka will receive a $200mn bailout.

SriLankan will receive $150mn and Mihin Lanka $50mn from the state, according to LBO, which described both companies as making “record losses”.