8-Nov-2019 11:21 AM

SriLankan Airlines reduces losses despite challenging operating environment

SriLankan Airlines reported (07-Nov-2019) it recorded a loss of USD19 million before interest and withholding tax for the six months ended 30-Sep-2019, down from the USD39 million loss recorded during the same period in 2018. The airline noted it managed to reduce its losses in 2019 despite recording a year-on-year decrease in group revenue during the six month period. SriLankan partly attributed the decrease to the loss of ground handling and catering revenue following the Apr-2019 Easter bombings in Sri Lanka, which resulted in multiple foreign airlines suspending or reducing frequency on services to Sri Lanka. The airline expects group revenue to "increase significantly" over the next six months. [more - original PR]

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