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Sri Lanka offers to buy Emirates out of SriLankan Airlines

Emirates has confirmed it is willing to sell at the ‘right price,’ while the Sri Lankan government seeks a strategic partner to take over the shares.

May 15, 2010 12:58 by

The government of Sri Lanka has offered Dubai’s Emirates Airline $55 million for its 43.6 per cent stake in the island nation’s national carrier SriLankan Airlines, reports Reuters.
“Sri Lanka is going to buy it… $55 million is the price we have indicated,” P.B. Jayasundera, secretary of the Sri Lankan finance ministry and treasury, is quoted as saying.
“The deal is almost done,” he continued. “We are looking for a strategic partner or somebody from the government to take that (the stake) and maintain the commercial character of SriLankan (Airlines).”
Emirates, the Arab world’s largest airline, has said it is willing to sell the stake “at the right price.”

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1 Comment

  1. desilvansc on May 15, 2010 8:34 pm

    this deal may be costly.but it has to be done in the interest of the has to be entrusted to non govt.commercial venture having local interest under govt.supervision. financial affairs should be constantly audited by experince internal/external auditers. certainly it should not be a another corperation adminstered by politicos.


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