KATUNAYAKE- This week, the Cabinet of Ministers has announced a major advancement in the privatization of SriLankan Airlines (UL), narrowing the field of potential acquirers from six to three prominent contenders.
Further, this decision marks a crucial step toward revitalizing the struggling airline. Earlier, it was reported that the potential investors included Emirates (EK), Tata Sons, and the Adani Group.
SriLankan Airlines Privatization Bidders
The three shortlisted companies are:
- Sherisha/Supreme Global Consortium: This powerful alliance includes Supreme Global Holdings and Sherisha Technologies Private Limited, with significant backing from MBS Investments, the investment arm of Sheikh Nayef Bin Eid Al Thani of Qatar. Supreme Global Holdings, led by R.M. Manivannan, has significantly contributed to Sri Lanka’s economic stability, including providing credit during the recent energy crisis. The consortium aims to redefine Sri Lankan Airlines’ future, enhancing its international competitiveness.
- Air Asia Consulting: Renowned for its expertise in airline operations, strategic planning, and turnaround strategies, Air Asia Consulting focuses on operational efficiencies and market expansion. Their involvement promises a fresh perspective on managing and growing Sri Lankan Airlines.
- Hayleys PLC: As one of Sri Lanka’s largest diversified conglomerates, Hayleys PLC has interests ranging from agriculture to transportation and logistics. Their inclusion brings a deep understanding of the local business landscape, potentially enhancing the airline’s operational logistics and domestic connectivity.
Speeding up the Process
Engagement with these shortlisted entities aims to accelerate the privatization process, ensuring that the future of Sri Lankan Airlines aligns with strategic, financial, and operational enhancements. This initiative is part of a broader effort to stabilize and grow one of Sri Lanka’s most vital economic assets.
Further, the Cabinet’s decision reflects a commitment to a transparent and strategic approach to privatization, aiming for the best possible outcome for the airline and its stakeholders.
As the process advances, the involvement of international partners like Qatar suggests promising prospects for regional cooperation, enhancing Sri Lankan Airlines’ role in South Asian aviation.
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