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SriLankan Airlines says ready for new partner after destroying economy for decades

SriLankan Airlines says ready for new partner | Economynext: State-run SriLankan Airlines is ready for a new private partner chosen from an ongoing negotiation process, as it cuts loses and focusses on more profitable regional routes, Chairman Ajith Dias said. Sri Lanka's government has appointed state-run National Savings Bank, BNP Parisbas and KPMG to seek a new partner. Bloomberg Newswires reported on two weeks ago that Blackrock and TPG are among firms that responded to an expressions of interest that closed on September 23. Dias said a new partner could be in place as early as November, but referred queries to investment bankers. Sri Lanka's government is expected to take-out a portion of its debt, which reports said could be around 460 million dollars to strengthen its balance sheet prior to a stake sale. The new partner will be able to run the airline with a relatively clean balance sheet he said. SriLankan Airlines had negotiated the cancellation of three Airbus A350 aircraft from AerCap, a leasing company paying terminations fees of around two years of their 12 year leases. Media reports have put the cancellation fee at 98 million rupees,
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