Colombo (News 1st);  The Cabinet of Minister approved the proposed Voluntary Retirement Scheme of Sri Lankan Airlines Ltd.

The decision to implement the Voluntary Retirement Scheme was made due to the financial crisis faced by SriLankan Airlines Ltd

A Three Member Committee headed by the Secretary to the State Ministry of Aviation and Export Zones Development was appointed to study the matter and it recommended the implementation of the proposed Voluntary Retirement Scheme without hindrance to the operations of the company for the next three years.

Approximately, 560 employees will be retired under the scheme and it is estimated it will cost Rs. 1.46 Billion.

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