Sri+Lanka%27s+Mihin+Lanka+Losses+Total+Rs17bn
Monday, 27 June 2016 - 15:39
Sri Lanka's Mihin Lanka Losses Total Rs17bn
2,605

Views

Sri Lanka's state-run carrier Mihin Lanka has lost 17 billion rupees over the past seven year, and has received a 15 billion rupee 'letter of comfort in 2015, a Finance Ministry report said.

Mihin Lanka was founded by ex-President Mahinda Rajapaksa and a close ally Sajin Vass Gunewardene, with tax-payer money and has made losses from day one.

The Finance Ministry report said it had been given a 15 billion rupee 'letter of comfort' in 2015 to continue operations.

President Rajapaksa also re-nationalized Sri Lankan Airlines driving out Emirates as managing shareholder which then generated large losses.

The finance ministry said in 2015/16 Mihin was expected to reduce losses to 938 million rupees, from 1.48 billion rupees a year earlier.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
2,077 Views
HiruNews
HiruNews
HiruNews
55,704 Views
HiruNews
HiruNews
HiruNews
21,427 Views
HiruNews
HiruNews
HiruNews
46,575 Views
HiruNews
HiruNews
HiruNews
1,160 Views
HiruNews
HiruNews
HiruNews
105,445 Views
Top