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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka state carriers to get US$200mn bailout

Sri Lanka state carriers to get US$200mn bailout

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Jake Sully


Manager - Equity Analytics
Manager - Equity Analytics
We all know why Emirates went away. Hardly a foreign air line will come and help again.
A business can be discontinued when there are no more demand for the service. Sri Lankan is a different story.


Jake Sully


Manager - Equity Analytics
Manager - Equity Analytics
@Kithsiri wrote:
@Jake Sully wrote:
@Rapaport wrote:Planes can be full but you r paying excess employees n free political trips
Correct, if they shut down Sri Lankan and a new private air line comes, and do you think these politicos will leave that new air line alone?
Any air line who knows the story will come here to operate?
What do you think would happened then ?
I think we should push the envelope further and see the outcome of it than just tacit acceptance, waiting for a miracle to happen.
You have to change the "Ultimate Parent Company" Very Happy 

UKboy


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Aviation industry continuously face challenges. It's one of the toughest jobs in the world to run an Airline profitably.
Any government should not involve in budget airline concept. It's extremely difficult to run a budget airline profitably by a government. Especially in a developing country.

As Kithsiri rightly said I wish someone terminates the operations of Mihin Airline tomorrow.

Emirates times at Air Lanka, of course better, but to show profits they did many tricks.

Head counts is not the main reason for none profitability at SriLankan. It's the Aircraft lease terms, Age of Aircraft & fuel bill.

SriLankan Airline can be turned around to make profits. Because same as the airline, the catering side and ground handlings rights own by the same group (Government).
But to make this profitable will be a hell of a challenge.

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
agree with the point, Mihin is not a good idea for the gov........But first of all they should win the election ne................lol
MR will never quite what he started specially under his name. it is politics, not management.

I strongly believe Srilankan will have a good time if they appoint a clever head to manage the cost.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Mihin should target muslim pilgrims who travel from Indonesia/Malaysia to Mecca


Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@rainmaker wrote:Mihin should target muslim pilgrims who travel from Indonesia/Malaysia to Mecca
Mihin should target anything within fours away from Colombo but with inept Bosses and old fleet of aircraft, I doubt that they are even capable of maintaining their printed schedule in the first place.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

SriLankan will get 150 million US dollars and Mihin Lanka will get 50 million US dollars.

Both entities are making record losses.
So we, common men, the public comes to rescue both of these companies this time???


State bus services will get another 1000 million rupees in people's money to buy new buses and 500 million rupees to cover losses.
Again... They buy we pay... Oh no.. they earn a lot from that 1 Bil as commission and we pay for that burden too..


Ceylon Electricity Board has turned around and Ceylon Petroleum has cut losses
At least this is good news.. However, I wont be surprised if the accountants have done some errors with figures and if its still not in loss..

There's still a lot of Govt. entities and other private companies owe big time to these two. If they have plans to recover that money, profitability is just the tip of the ice berg..

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Mihin Lanka reduced it losses at the expense of SLankan Airlines

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Outsourcing of certain segments may help to reduce excessive cost with distant but invincible political hands.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Has anyone thought how much better our balances will be if CEB, CPC , Sri Lankan , Mihin were better managed ( forget profits just turn them to no losses) .

All these taxes government keep imposing on innocent people to make money ( food , electricity other taxes) which actually amounts to relatively less turnover can be wiped out by several times if these companies are revived.

Who will do it and will it ever. Due to inefficiency and selfishness of a few , millions of innocent people have to pay the price and suffer.

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