Hirunews Logo
Sri+Lanka%27s+Mihin+Lanka+Losses+Total+Rs17bn
Monday, 27 June 2016 - 15:39
Sri Lanka's Mihin Lanka Losses Total Rs17bn
16

Shares
1,989

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
Top 25 beaches in the world
Saturday, 25 February 2017 - 12:02
TripAdvisor Travellers' Choice awards reveals top 25 beaches in the world. Baia do Sancho on the Brazilian archipelago Fernando de Noronha takes the top... Read More
News Image
Hiru News Programme Segments
1,972 Views
4,096 Views
2,706 Views
4,344 Views
2,989 Views
48,348 Views
Top