‘Notable advancements in aviation sector due to President’s vision’

Ports, Shipping and Aviation Minister Nimal Siripala de Silva attributed the aviation sector’s notable progress in Sri Lanka to President Ranil Wickremesinghe’s effective programmes, fostering political and economic stability.

The airport and airline industry achieved a substantial profit of Rs. 26 billion, encompassing Ratmalana, Mattala, and Palaly airports. Notably, a 25 percent reduction in the Mattala Airport losses and a Rs. 12 million profit from the Palaly Airport were highlighted by the Minister.

Underlining the success, the Minister reported a significant influx of 6.6 million tourists to Sri Lanka this month. Looking ahead, collaborative efforts with the Tourism Ministry are underway to attract 50 million tourists to Sri Lanka within the next five years. Minister De Silva shared these insights during a news conference at the Presidential Media Centre, themed ‘Collective Path to a Stable Country’.

Expressing his views further Minister De Silva said: “There’s widespread acknowledgment of the imperative to restructure SriLankan Airlines, a process marked by significant transparency. Support from reputable organizations like the International Monetary Fund and the World Bank, along with the guidance of a World Bank-appointed consultant, underscores the technical expertise involved in this initiative. The commencement of the restructuring process, backed by meticulously prepared documents and extensive international publicity, reflects a commitment to finding a robust and profitable investor.

“The evaluation of investor proposals, guided by the advice of the consultant, involves a thorough consideration of profitability and strength. A dedicated technical team, comprising private sector representatives and officials such as the Prime Minister’s Secretary and the Secretary of the Ports, Shipping, and Aviation Ministry, has been tasked with managing this crucial aspect. As of now, discussions involve around six investors, with an optimistic projection of finalizing a suitable investor by next May to fortify SriLankan Airlines.

“Shifting focus to the broader aviation sector, despite the challenges posed by the Covid-19 pandemic and economic downturn, there has been a noteworthy resurgence in tourist numbers. The achievement of bringing 6.6 million tourists to Sri Lanka this month is a positive indicator. The ambitious goal of attracting 15 million tourists to the country reflects a forward-looking strategy despite past setbacks.

“The growth observed in air passenger traffic, particularly at Ratmalana, Mattala, and Palaly Airports, underscores a clear positive trend in Sri Lanka’s aviation sector.

“The collective success of all three airports is highlighted by the substantial profit of Rs. 26 billion earned by the airport and airline companies, indicating significant progress in this domain.

“Specifically, the restructuring efforts at Mattala Airport have resulted in a commendable 25 percent reduction in losses. Additionally, the relatively new Palaly Airport has generated a profit of Rs. 12 million, contributing further to the positive narrative surrounding our aviation services.

“It’s crucial to attribute this success to the prevailing political and economic stability in the country. The alignment of the aviation sector’s growth with the return of stability reflects the impact of the President’s well-crafted programmes. This progress serves as a testament to the nation’s recovery and its resilient movement toward sustained political and economic stability.”

The post ‘Notable advancements in aviation sector due to President’s vision’ appeared first on DailyNews.