SL Airlines agrees to pay outstanding to the CPC

COLOMBO (News 1st) - Sri Lankan Airlines has agreed to pay the US $5 million due to the Ceylon Petroleum Cooperation by next week. The Manager of the Ceylon Petroleum Cooperation Neil Jayasekara said that after successful discussions, SriLankan airlines agreed to pay the outstanding money in installments. The debt owed by Sri Lankan Airlines to the CPC for the purchase of fuel stands at US $87.5 million that is Rs 13.45 Billion. CPC also confirmed that Sri Lankan Airlines had agreed to pay off the US $5 million due by next week. The National carrier service would be obtaining a loan from a private bank to pay the rest in installments. The CPC further added, stating that the Sri Lankan airlines have planned to present a proposal in this regard for cabinet approval. Discussions between the two parties have also resulted in an agreement to continue the supply of fuel to the national carrier.