Srilankan Airlines Sri LankaSri Lankan Airlines Sri Lanka
Sr. Banker explained that this includes banking guaranties, loan and overdraft facilities, often backed by Treasury guaranties to cover working cap costs, fines and other operating costs. They also announced that in December 2014 a high-ranking finance ministry officer had sent a letter to the Civil Aviation Authority in which he explained that a rupee amount of 125 million US dollars should be transferred to SriLankan Airlines for the purposes of "debt settlement".
He also made a scandalous declaration that the authorities expect the state bank to finance the state owned air company until the air company forms a public privat partnership. Adding that the present state-owned banking process is not typically the case for merchant banking in this respect, he said that the resources provided to the authorities could be used more profitable if provided to privately-owned companies.
Another eyewitness, who appeared before the Honourable Member of the European Parliament, provided further information on the General Sales Contracts concluded with third party representatives of the airline abroad. Announcing that Sri Lanka had a GSA counterpart for Hong Kong, she said Sri Lanka was looking for a new counterpart when the deal expired.
While the 2009 Handbook states that a body must convene and authorize the GSA's, no such authorization was found for Hong Kong area. Vickramasinghe was also present at the CID session of the PICO to make comments about his allegations of participation in misconduct at the airline.