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SriLankan Makes First Ever Profit  
User currently offlineZizou From Australia, joined Oct 2000, 1535 posts, RR: 4
Posted (9 years 11 months 2 weeks 1 day 19 hours ago) and read 1385 times:

Finally after 25 years, success!

SriLankan Airlines makes first profit in 25 years

September 22, 2004

SriLankan Airlines posted its first net profit in 25 years in the year ended March 31, 2004, thanks to higher passenger traffic and more frequent flights, the airline said on Wednesday.

State-controlled SriLankan made a profit of 600 million rupees (USD$5.8 million), compared with a 700 million rupee loss the previous year, Chief Financial Officer S.A. Chandrasekera told a news conference. "This is the first time airline operations have made a profit in 25 years," Chandrasekera said.

"Global oil prices are an issue for us but with traffic expected to rise by 25 percent next year, we are also expecting a revenue growth of about 25 percent," he added.

Group net profit, which includes catering, cargo and ground-staff operations as well as the airline itself, rose 76 percent to 5.63 billion rupees in the year from 3.20 billion rupees the previous year.

SriLankan, which is not listed on the stock exchange, is majority-owned by the state. Dubai airline Emirates holds a 43.4 percent stake.

(Reuters)


1 replies: All unread, jump to last
 
User currently offlineMrniji From , joined Dec 1969, posts, RR:
Reply 1, posted (9 years 11 months 2 weeks 1 day 19 hours ago) and read 1355 times:

I read this too somewhere and think it is great news! Congrats.. hope they will do even better in future. The OpenSky with India will significantly augment their potential

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