Cabinet approved a high-level committee chaired by Hans Wijayasuriya, a presidential adviser, to review SriLankan Airlines and direct its restructuring. The committee is now responsible for advising the government on the loss-making airline’s fate, The Examiner learns.
It will also work closely with the World Bank Group’s International Finance Corporation, which will continue to act as the government’s transaction adviser.
Evaluating strategic options, engaging investors, and overseeing implementation of any future strategies are among the committee’s key duties. The options to be assessed include debt and partnership arrangements, notes the cabinet paper submitted by President Anura Kumara Dissanayake in his capacity as Finance Minister.
The committee will comprise of presidential advisers Hans Wijesuriya and Duminda Hulangamuwa, bankers Deshal de Mel and Dumith Fernando, the nominees of the secretaries to the Treasury and Transport Ministry, the SriLankan Airlines chairman, an aviation expert, and a legal expert.
The cabinet paper says this strategic review is an “urgent priority” — both from a shareholder perspective and the broader macroeconomic point of view. The objective is to establish a financially sustainable and commercially-viable national carrier while minimising the long-term fiscal burden on the state.
Successive administrations have explored a range of restructuring and partnership options for the airline over the past two decades, but none has succeeded in stemming the years of losses.
The airline also got a new chairman this week. Dimal Arandara, a civil servant, was appointed the chair of SriLankan Airlines yesterday, after having served as its interim chairman since April. In April, Sarath Ganegoda resigned from the same position, after assuming the role in October 2024.
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