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National Crimes : SriLanka airline bailed out with Rs60bn, Rs107bn hole in balance sheet

SriLanka airline bailed out with Rs60bn, Rs107bn hole in balance sheet | Economynext: By April, Sri Lankan Airlines had negative net assets of 107.7 billion rupee by April 2017, with the hole in the balance sheet up from 80.4 billion rupees a year earlier, after 28.8 billion rupee loss.


Sri Lanka's Auditor General, without qualifying the accounts, noted that a "material uncertainty exists" casting significant doubt on the group's ability to continue to operate, but state support and letters of comfort was making the group a going concern.

SriLankan Airlines, started making losses under the Rajapaksa regime when Dubai-based Emirates was kicked out as managing shareholder.

But the airline had made a 40 billion rupee loss under the current administration becoming a high profile symbol of mis-management and losses, after the failure to privatize the carrier.
National Crimes : SriLanka airline bailed out with Rs60bn, Rs107bn hole in balance sheet SocialTwist Tell-a-Friend

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