Measures to ensure survival of SriLankan Airlines and save costs

SriLankan Airlines, the national carrier of the island says its management had taken measures to preserve the liquidity of the airline by negotiating deferred payment plans and deductions with key suppliers. A statement said SriLankan Airlines is looking at creating new business opportunities whilst focusing on cost-saving measures to improve liquidity. These measures include: * Mandatory salary reductions from the staff starting from 2.5% to 25% for a period of three months. * Freezing all salary increments to be implemented in the year 2020 * Temporarily terminating operations from 08th to 21st April 2020, with the exception of cargo services. SriLankan Airlines says it management is taking all endeavors to protect and safeguard its staff members and their employment with total confidence the airline will collectively overcome the challenges. It adds, globally the airline industry faces its gravest crisis in modern times, due to the COVID-19 pandemic.