Live auction for divestment of SriLankan Airlines on 05 March - Minister

Live auction for divestment of SriLankan Airlines on 05 March - Minister

February 28, 2024   09:49 pm

Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has announced that an investor for SriLankan Airlines will be chosen following a live auction for the divestiture of SriLankan Airlines on 05 March.

Speaking during Ada Derana’s ‘GET REAL’ segment, the Minister revealed that bids have been called, explaining that the live bidding will take place from 10:00 a.m. to 02:00 p.m. on 05 March, following which the bids will be evaluated, and sent to the Cabinet.

“I want somebody strong to come forward, who can invest at least USD 500 million and ensure job security for the 6,000 people who are working in the airline, that is my priority”, he said in this regard.

The Minister’s statement comes on the heels of several technical issues and other faults causing various delays and cancellations in SriLankan Airlines flights.

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