The government has decided to suspend the budget airline 'Mihin Lanka' and merge it with the national carrier SriLankan Airlines, according SLM.
Despite being plagued by financial losses, debt, waste and corruption
the airline was continued at the massive expense of taxpayer money to
boost the image of the former President.
The above decision is to be taken after considering the interim report of COPE (Committee on Public Enterprise).
The report states that the airline has incurred a loss of Rs. 3.3 billion during the year 2013 and that the figure has risen last year.
Speaking on this regard at a media briefing held on August 05, 2014, COPE Chairman DEW Gunesekara said that Mihin Lanka had incurred losses mainly because the institution was made to borrow at high interest rates. He said the institution had been made to raise capital through borrowings.
He also recommended to merge Mihin Lanka and the national carrier SriLankan Airlines.
Meanwhile, the newly formed Anti-Corruption Front yesterday (20) filed a complaint with the CIABOC over a massive fraud that has occured within the 'Mihin Lanka'.
source : SLM
The above decision is to be taken after considering the interim report of COPE (Committee on Public Enterprise).
The report states that the airline has incurred a loss of Rs. 3.3 billion during the year 2013 and that the figure has risen last year.
Speaking on this regard at a media briefing held on August 05, 2014, COPE Chairman DEW Gunesekara said that Mihin Lanka had incurred losses mainly because the institution was made to borrow at high interest rates. He said the institution had been made to raise capital through borrowings.
He also recommended to merge Mihin Lanka and the national carrier SriLankan Airlines.
Meanwhile, the newly formed Anti-Corruption Front yesterday (20) filed a complaint with the CIABOC over a massive fraud that has occured within the 'Mihin Lanka'.
source : SLM
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