Sri Lanka’s airline sell-off stalls

AFP, COLOMBO: Sri Lanka has failed to attract bids from international airlines to privatise its loss-making flag carrier, but will continue its efforts to salvage the company, a minister said yesterday. The government received nine offers for Sri Lankan but none were from a major international airline operator, State Enterprise Development Minister Kabir Hashim said. "We are still evaluating the proposals, but we are keen to have an airline of international repute that can also bring in traffic that will help our tourism industry," the minister told reporters in Colombo.
Of the proposals received, the government has shortlisted three, including one from TPG, a San Francisco-based private equity firm.
Hashim is heading a new three-member ministerial panel to decide the future of Sri Lankan which has debts and accumulated losses of over $2 billion.
"The new committee was appointed to explore other options," the minister said. "We don't know yet what those options are, but we want to get a good international (airline) partner very soon."

Sri Lankas airline sell-off stalls

AFP, COLOMBO: Sri Lanka has failed to attract bids from international airlines to privatise its loss-making flag carrier, but will continue its efforts to salvage the company, a minister said yesterday. The government received nine offers for Sri Lankan but none were from a major international airline operator, State Enterprise Development Minister Kabir Hashim said. We are still evaluating the proposals, but we are keen to have an airline of international repute that can also bring in traffic that will help our tourism industry, the minister told reporters in Colombo. Of the proposals received, the government has shortlisted three, including one from TPG, a San Francisco-based private equity firm. Hashim is heading a new three-member ministerial panel to decide the future of Sri Lankan which has debts and accumulated losses of over $2 billion. The new committee was appointed to explore other options, the minister said. We dont know yet what those options are, but we want to get a good international (airline) partner very soon.