SRI LANKA: Sri Lanka in talks to acquire stake held by Emirates

The Sri Lankan government is negotiating the purchase of Emirates’ 43.6 per cent stake in SriLankan Airlines UL. Emirates opted out of its management contract with UL two years ago saying it would look to sell its stake. Emirates president Tim Clark told Reuters that discussions with the Sri Lankan government are at a preliminary […]


The Sri Lankan government is negotiating the purchase of Emirates’ 43.6 per cent stake in SriLankan Airlines UL. Emirates opted out of its management contract with UL two years ago saying it would look to sell its stake. Emirates president Tim Clark told Reuters that discussions with the Sri Lankan government are at a preliminary stage and that Emirates would consider a deal if the “price is right.”

Sri Lanka CEO Manoj Gunawardena said the carrier expects to narrow its loss for the fiscal year ending 31 March from the LKR9.9 billion (US$86.4 million) deficit reported in the year ended 31 March 2009.