SriLankan Airlines – Collapsed deals, losses and unanswered questions (VIDEO)

SriLankan Airlines – Collapsed deals, losses and unanswered questions (VIDEO)

Written by Lahiru Fernando

12 Jun, 2017 | 5:57 pm

SriLankan Airlines, a familiar name among many facing economic tragedies in Sri Lanka, is set to make the last installment payment for cancellation of three Airbus aircraft in June 2017.

The collapsed deal – A break down of costs relating to termination and amendment agreements:

  • Non Refundable Deposit – US$ 56 million
  • Immediate Payment – US$ 10.5 million
  • Six installments – US$ 79.8 million
  • Lease of Airbus 200 – (Loss unknown)
  • Total Cost – US$ 146.3+ million

While the total cost of the transaction stands exceeding 146.3 million US dollars or a staggering twenty-two billion two hundred ninety-nine million forty-six thousand rupees, the total gain for the country as a result of all this is an absolute zero.

The questions remain…

Who placed this order?
Who benefited from these transactions?
and
Why is there no inquiry?

Recent revelations in Parliament show the insurance payment to the flood victims would amount only up-to 8 billion 889 million 600 thousand rupees (Rs. 8,889,600,000).

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