AirAsia among bidders for SriLankan Airlines

Monday, 22 Apr, 2024 0

Southeast Asia based budget airline group AirAsia is among a group of six bidders interested in acquiring cash-strapped SriLankan Airlines.

Its unit AirAsia Consulting filed a request for qualification to acquire shares in SriLankan Airlines Limited, the Sri Lanka finance ministry said.

The flag carrier has been struggling for years and posted heavy losses of LKR 73.6 billion in 2023.

The government has taken over $510 million in bank loan liabilities to help make an acquisition more attractive.

The government will also provide about $70 million in short term working capital over the next few months.

As well as AirAsia, the other bidders are Dharshaan Elite Investment Holding (Pvt) Ltd, FITS Aviation Ltd, Sherisha Technologies Ltd, Treasure Republic Guardians Ltd and Hayleys PLC.

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

In 2024, The Red Sea will be ready to welcome 300,000 guests in line with the completion of 16 hotels...

Here at Elegant Resorts, luxury travel is in our DNA. True pioneers in the industry, we were the first specialist...

Virtuoso is the leading global network of agencies specializing in luxury and experiential travel, with more than 20,000 advisors. We...

ABOUT THE PHILIPPINES Mabuhay! Welcome to our archipelago of 7,641 islands where there are endless beaches, lively and fashionable cities,...

Air Transat is Canada’s number one leisure airline. It flies to some 60 international destinations in more than 25 countries...

The Mexico Tourism Board serves as the driving force behind Mexico’s global appeal, orchestrating targeted marketing campaigns to showcase the...

River cruising is a treat for the senses, allowing you to see, touch, feel and experience the world like never...

For over 18 years and over 106 completed events, the Travel & Adventure Show has connected over 2.5 million travel...

If you’re thinking of cruising, there’s a very good chance you’re considering a Carnival cruise. Growing since our founding in...

Celebrating its 30-year anniversary in 2022, Regent Seven Seas Cruises® offers guests An Unrivaled Experience® with every luxury included. Carrying...

We make travel accessible for everyone We believe everyone should be free to experience the world. For us, there’s no...

Why Avalon Waterways: Happiness flows on an Avalon river cruise. From Asia to South America and Europe to the Nile,...

WANDERERS WELCOME to MISSISSIPPI Mississippi is a state for all those who are wanderers at heart. From lush, forested Appalachian foothills to...

Holiday Extras is the UK market leader in airport parking, airport hotels, worldwide airport lounges, destination car hire, airport transfers...

The State of Michigan is blessed with the riches of unspoiled nature: the nation’s longest freshwater coastline, lakes that feel like...

Queensland – where it’s rude not to stare Here in Queensland, there’s plenty to do. But there’s even more to...

We work with reliable data providers with global coverage, that guarantee data representativeness as well as compliance with International Personal...