An Opposition MP has alleged that a planned share issue of SriLankan Airlines is intended to facilitate a takeover by selected private interests.
MP Dayasiri Jayasekera told the media that proposals are underway to issue Rs. 2.5 billion worth of shares at Rs. 100 each as part of a restructuring effort. He claimed the Treasury is expected to purchase the shares in order to stabilise the debt-burdened national carrier.
According to Jayasekera, the move would allow the government to settle outstanding debts and improve the airline’s financial position, thereby paving the way for certain companies to acquire key subsidiaries, particularly SriLankan Catering and ground handling operations.
He further alleged that while there is currently limited investor interest in the heavily indebted airline itself, the share issue would make its most commercially attractive divisions more accessible to prospective buyers once the company’s liabilities are addressed.
