Srilankan Airlines 2016

Due to the challenging economic environment, however, the carrier reported an unaudited consolidated net loss of LKR 6.49 billion (USD 15.12 million) before financing and non-recurring items. That is an augmentation from the previous year's LKR 2.90 billion (USD 3.15 million) reported net losses - but a significant correction from the planned annual budget shortfall.

It was a tough year for airlines around the world as the International Air Transport Association (IATA) estimates that prices will fall by 8% in US dollars globally. Sri Lanka Rupee's devaluation against the US dollar had a significant adverse effect on the carrier as a large part of the cost of the company's international flight operations is in US dollars.

Impacts were further compounded by the relatively high prices of fuels in Colombo, where most of the airline's cultivation occurs. Faced with these challenging times, the carrier has speeded up its cost-cutting effort and reduced its unit costs (CASK) in US dollars.

In the last three months of the year, the airline's business continued to be significantly and negatively affected by the implementation of the very necessary airport restoration at Bandaranaike International Airport in Colombo, which obliged the company to suspend more than 600 aircraft during this time. She has already indicated that she will be adding three new Indian Destinations from summer 2017, making her the biggest overseas carrier to India in terms of the number of serviced city.

In the meantime, the main stockholder, the Government of Sri Lanka, is taking an action to choose a viable strategy partnership for the carrier.

Columbo November 24, 2016:

Columbo November 24, 2016: The airline will extend its services to the Gan Island of the Addu Atoll on 1 December 2016 and will be the first and only airline to fly to this stunning target. Olhuveli Beach Resort & Spa, Maldives, is the annual award event organised by the Maldives Association of Travel Agents & Tour Operators (MATATO) with the goal of improving the standard of services provided by the Maldives tourist industries.

Each year, guests and travellers choose their favorite tour operators and hospitals for the prestigious awards.