SriLankan Airlines urgently cutting costs through cost restructuring

SriLankan Airlines CEO, Manoj Gunawardena, announced in Aug-2009 that the carrier expects a turnaround by late 2010, with its growth forecast in line with projected recovery in the tourism industry. Sri Lanka’s 26 year civil war came to an end in May-2009 and is expected to bring about a revival for the nation’s economy. Tourist arrivals in Sri Lanka reportedly increased for the first time this year in Jun-2009, following the resolution of civil unrest. [1132 words]

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This report contains the following subheadings:

• Losses almost double in FY2008/09
• Once again Mihin Lanka’s losses mount
• Expands international network through codeshare and interline partners
• Sixth airline to pass IATA Safety Audit for ground operations

This report contains the following charts and tables:

• SriLankan Airlines net profit/loss: 1QFY2008/09 to 4QFY2008/09
• Mihin Lanka route map: Sep-2009
• Sri Lanka capacity breakdown by carrier (seats per week as % of total)
• SriLankan Airlines route map: Sep-2009