Failure to restructure SriLankan Airlines speedily will endanger the job security of its 6,000-strong workforce, said civil aviation minister Nimal Siripala de Silva.
The state cannot continue to maintain the loss-making airline that is 1.2 billion US dollars in debt, and it is unfair to waste taxpayers’ money for the purpose, he said at a media briefing yesterday (30).
Steps have been taken to obtain assistance from international financial experts for its restructure.
The state will retain a 51 percent majority stake, while 49 pc will be offered to an investor, he said.
The process is expected to be completed within the next six months.
The investor will have to agree to conditions on job security and other rights of the airline’s staff, said de Silva.