Five-Year Plan Launched to Return SriLankan Airlines to Profitability and Expand Fleet

COLOMBO (News 1st): SriLankan Airlines has taken steps to implement a five-year plan aimed at restoring the national carrier to profitability.

This was revealed during a meeting of the Sectoral Oversight Committee on Infrastructure and Strategic Development, held in Parliament.

According to a statement issued by Parliament, the Committee also examined the airline's financial crisis, frequent flight delays, mounting debt and delays in procurement processes for acquiring new aircraft.

Discussions focused on the airline's existing fleet of 23 aircraft, which was described as inadequate, with the aircraft averaging around 12 years in age.

The Committee was informed that technical issues and other operational difficulties involving the ageing fleet have contributed to flight disruptions and delays.

It was also revealed that when a flight is delayed due to a technical fault or another reason, the limited availability of replacement aircraft can have a knock-on effect across the airline's entire flight network.

The Committee also examined the failure of conventional procurement processes previously adopted to acquire aircraft, as well as the lengthy delays associated with those procedures.

In response, officials informed the Committee that a special set of procurement guidelines has been prepared for the purchase of aircraft and related equipment, with steps being taken to gazette the guidelines.

Discussions also revealed that the airline expects to add one new narrow-body aircraft and two wide-body aircraft to its fleet by June.

Officials further stated that increasing the fleet to at least 29 aircraft by 2029 is one of the key targets of the five-year plan.

Accordingly, the Committee instructed the relevant authorities to submit a comprehensive report to Parliament and the Ministry before November 30, outlining the measures required to bring SriLankan Airlines to a cost-recovery level within the next two to three years.

Meanwhile, according to the Ministry of Finance's Mid-Year Fiscal Position Report, SriLankan Airlines incurred a loss of more than 35 billion rupees during the first three months of the 2026/2027 financial year.