COLOMBO, Sri Lanka – The board of directors at loss-making SriLankan Airlines has been told to ‘perform or quit’ if the airline doesn’t return to profitability soon.
COLOMBO, Sri Lanka – The board of directors at loss-making SriLankan Airlines has been told to ‘perform or quit’ if the airline doesn’t return to profitability soon. Not mincing his words, Public Enterprises Development Deputy Minister Eran Wickramaratne warned this week that the national carrier should get its act together and stop the bleeding (losses) within two years and then show a growth path.
“I will not accept a budget which shows five years of continuous losses. Those who are managing the company and who are on the boards of the company need to take responsibility (or leave),” he told a pre-budget panel discussion organised by the Sunday Times Business Club (STBC) on Monday at the Cinnamon Lakeside Hotel. The airline comes under the purview of Mr. Wickramaratne’s ministry.