Written by Lahiru Fernando
01 Oct, 2017 | 9:56 pm
Mihin Lanka’s run as a budget airline has come to an end, ten years after it’s initiation.
According to a Sunday Times newspaper report, the airline is being liquidated.
The newspaper says that the Auditor General has already closed it’s books, with a final annual general meeting being called in.
Sunday Times quoted Suren Ratwatte (CEO of Sri Lankan Airlines) saying:
“The Auditor General has closed the books. We have to get that approved, have a last annual general meeting and go into voluntary liquidation. That should happen fairly soon and the air operator’s certificate will be transferred to SriLankan.”
SriLankan Airlines took Mihin Lanka under it’s wings in October 2016. And it was Suren Ratwatte who decide to shut down Mihin Lanka.
The newspaper report says Ratwatte maintained that he could not have restructured the two airlines, SriLankan and Mihin, at the same time.
Mihin had also competed with SriLankan on many of it’s flight routes.
SriLankan has now absorbed 120 of Mihin’s employees while 180 took a voluntary retirement scheme, funded by the budget carrier.
The former Minister of Finance Ravi Karunanayake stated in 2016 that the total accumulated losses of Mihin Lanka amounted up to Rs. 17 billion during the 9 years from 2007 to January 2016.
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