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» Laughter the Best Medicine
Yesterday at 5:03 pm by Ethical Trader

» සිව් හෙලයේ ඉතිහාසය නිවැරදි කිරීම
Yesterday at 1:03 pm by කිත්සිරි ද සිල්වා

» Dividend Announcement
Yesterday at 11:47 am by Rana

» ප්‍රගීත් එක්නැලිගොඩ: "ෆයිල් අතුරුදහන්වීම" ගැන සන්ධ්‍යා හමුදාපතිට කිවූ දේ
Thu Jan 18, 2018 12:13 pm by Ethical Trader

» China offers best chance for SL development: CB
Thu Jan 18, 2018 9:27 am by කිත්සිරි ද සිල්වා

»  බැඳුම්කර වාර්තාව
Wed Jan 17, 2018 6:58 pm by කිත්සිරි ද සිල්වා

» "මිසයිල් අනතුරු ඇඟවීම වැරදි බොත්තමක් එබීමෙන්"
Tue Jan 16, 2018 1:19 pm by nihal123

» ඉන්දියාවේ ශ්‍රේෂ්ඨාධිකරණ විනිසුරුවෝ අගවිනිසුරුට එරෙහිව ප්‍රවෘත්ති සාකච්ඡාවක
Mon Jan 15, 2018 2:06 pm by Ethical Trader

» එක්කෝටි විසි ලක්ෂයකට අධික ළදරු කිරිපිටි ඇසුරුම් ආපසු කැඳවයි
Mon Jan 15, 2018 2:00 pm by Ethical Trader

» ට්‍රම්ප්ගේ "ජාතිවාදී" භාෂාව ගැන කෝපය පළ වේ
Sun Jan 14, 2018 5:32 pm by කිත්සිරි ද සිල්වා

» විශ්මිත නිර්මාණ එළිදැක්වූ ලෝකයේ විශාලතම තාක්ෂණික ප්‍රදර්ශනය
Sat Jan 13, 2018 12:12 pm by Ethical Trader

» CCTV මගින් රථවාහන දඩ: අත්හදා බැලීම පෙබරවාරියේ
Sat Jan 13, 2018 11:00 am by Ethical Trader

» Six-year term for President Sirisena: AG tells Supreme Court
Fri Jan 12, 2018 6:11 pm by Ethical Trader

» US revamps travel warning system; SL gets an okay
Fri Jan 12, 2018 6:09 pm by Ethical Trader

» Term of a Dictator
Fri Jan 12, 2018 6:02 pm by Ethical Trader

» නියම බුදු දහම
Fri Jan 12, 2018 2:44 pm by Ethical Trader

» මන්ත්‍රී විමල්ට අධිචෝදනා පත්‍ර භාර දුන්නේ ඇයි?
Thu Jan 11, 2018 5:31 pm by Ethical Trader

» SEYB.N0000 ( SEYLAN BANK PLC )
Thu Jan 11, 2018 5:25 pm by Ethical Trader

» 2008 -2014 බැඳුම්කර නිකුතු ගැන මහින්ද ප්‍රකාශයක් සිදු කළ යුතුයි - රනිල්
Thu Jan 11, 2018 12:00 pm by yellow knife

» ලෝකයේ රටවල් දෙකක මහා දේශගුණික වෙනස
Wed Jan 10, 2018 5:58 pm by Ethical Trader

» ඉතිහාසයේ පළමු වරට කොටස් වෙළෙඳපොළෙන් ත්‍රිත්ව ශතකයක්
Wed Jan 10, 2018 5:45 pm by Ethical Trader

» RICH N.0000 Richard Pieris and company PLC
Mon Jan 08, 2018 6:14 pm by Ethical Trader

» බැඳුම්කරය: මහින්දගෙන් ප්‍රශ්න කරන්න ජනමාධ්‍ය බයද? - රනිල්
Mon Jan 08, 2018 11:58 am by කිත්සිරි ද සිල්වා

» ලංකාවේ සුපිරිම දුම්රිය ස්ථානය
Sun Jan 07, 2018 5:33 pm by spw19721

» බැඳුම්කර කොල්ලයේ හෙළි වූ හොරු මෙන්න
Sun Jan 07, 2018 11:07 am by Ethical Trader

» අගමැති නිදොස් යයි කීම "ස්වයංවින්දනයක්ද?"
Sun Jan 07, 2018 10:51 am by Ethical Trader

» නව බදු : සෞදි බලධාරීන්ගෙන් තවත් පියවරක්
Sun Jan 07, 2018 10:48 am by Ethical Trader

» දුප්පත්කමින් එතෙරවීමට ඉනිමං බඳින චීනය
Sun Jan 07, 2018 10:45 am by Ethical Trader

» "නාන්න අවසර විනාඩි දෙකයි"
Sun Jan 07, 2018 10:39 am by Ethical Trader

» බැඳුම්කර කොමිසමේ නිර්දේශ ක්‍රියාත්මක කරන්න - අගමැතිගෙන් උපදෙස්
Sat Jan 06, 2018 7:24 pm by කිත්සිරි ද සිල්වා

» "Politically Black": බ්‍රිතාන්‍යයේ ජාතිවාදයට එරෙහිව සටන් වැදුණු ශ්‍රී ලාංකිකයා
Sat Jan 06, 2018 12:26 pm by Ethical Trader

» 'ෆයර් ඇන්ඩ් ෆියුරි' බොරුවෙන් පිරිලා - ට්‍රම්ප්
Sat Jan 06, 2018 12:22 pm by Ethical Trader

» සුනඛයෙකුට කළ ප්‍රතිකාරයකින් බිම් බෝම්වලට ගොදුරුවූවන්ට "නව බලාපොරොත්තුවක්"
Fri Jan 05, 2018 7:51 pm by කිත්සිරි ද සිල්වා

» රවිට නඩු, රනිල්ට තරවටු, සියලු පාඩු අයකර ගැනීමට පියවර- ජනපති කියයි..
Thu Jan 04, 2018 6:24 pm by Ethical Trader

» බැඳුම්කර කොමිසමේ නිර්දේශ: "අගමැතිතුමා නිර්දෝෂී බව කොමිසම සනාථ කළා"
Thu Jan 04, 2018 3:27 pm by CK

» "බරපතල වංචා, දූෂණ" කොමිෂන් වාර්තාවත් ජනපතිට භාර දෙයි
Thu Jan 04, 2018 10:06 am by Ethical Trader

» Banking Sector Outlook-
Thu Jan 04, 2018 10:01 am by Ethical Trader

» දූෂණ පරීක්ෂණවලට තිරිංග දැම්මේ කවුද?
Wed Jan 03, 2018 6:37 pm by CK

» 2018 Calander
Wed Jan 03, 2018 11:07 am by Ethical Trader

» CSE Holidays - 2018
Wed Jan 03, 2018 11:03 am by Ethical Trader

» CB action taken on ailing finance companies.
Wed Jan 03, 2018 10:43 am by Ethical Trader

» World’s Most Toxic Food
Wed Jan 03, 2018 10:28 am by කිත්සිරි ද සිල්වා

» Tempolten's 22 Principles for successful Investments.
Wed Jan 03, 2018 10:18 am by Ethical Trader

» සෞදි අරාබිය සහ එක්සත් අරාබි එමීරය පළමු වරට බදු හඳුන්වා දෙති
Tue Jan 02, 2018 7:14 pm by කිත්සිරි ද සිල්වා

» ඉරානය- මරණ විසි ගණනක්; සිය ගණනක් අත්අඩංගුවේ
Tue Jan 02, 2018 7:12 pm by කිත්සිරි ද සිල්වා

» ස්වර්ණමහල් සහ ඊටීඅයි ෆිනෑන්ස් සමාගම් මහ බැංකුවේ නියාමනයට
Tue Jan 02, 2018 7:10 pm by කිත්සිරි ද සිල්වා

» යාචක තහනම: "යාචකයන්ට දිනකට රු 1,500ක රැකියා"
Tue Jan 02, 2018 7:10 pm by Ethical Trader

» Ouch !
Mon Jan 01, 2018 6:33 am by spw19721

» Flying is the Safest mode of Transport
Sun Dec 31, 2017 8:50 am by කිත්සිරි ද සිල්වා

» What would it be?
Sat Dec 30, 2017 6:04 pm by කිත්සිරි ද සිල්වා

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SriLankan to pay Rs.25bn for aircraft order cancellation

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SriLankan to pay Rs.25bn for aircraft order cancellation

Post by sashimaal on Wed Oct 05, 2016 12:36 am

The Sri Lankan government will be paying Rs. 25 billion to the Netherlands-based world’s biggest aircraft leasing company AerCap Holdings N.V. before the end of this year in order to exit the lease agreement for four Airbus A350-900s ordered by the state-owned national carrier SriLankan Airlines.

“When looking for the best option, Minister Kabir Hashim and I, with the approval of the Prime Minister, decided to leave the agreement and pay them a fine,” Finance Minister Ravi Karunanayake told a media gathering yesterday.

He noted that the four aircraft would have cost the government Rs. 900 million in losses per month through operations. The first aircraft was set for delivery this month.
“If we didn’t reject this payment yesterday, it would have been put in our account. On the other hand, to erase this monthly loss, we have to pay Rs. 25 billion. We have to pay this amount before the end of this year,” Karunanayake said.

Karunanayake said that those asking the current administration to point out any shortcomings of the past regime should look at such spending. “This is what we have to clean up. When the country needs buses, they have gone and bought Airbuses.”

The previous administration had also ordered 4 A350-900s directly from Airbus to be delivered by 2019. Karunanayake said that the remaining four will also have to be cancelled.
“If we start negotiations for them now, the amount we have to pay will also be lower,” he said.
He said that SriLankan has no need of aircraft of such specifications, since SriLankan’s longest routes to The UK, Japan and Australia are less than 12 hours. The A350-900 could fly 325 passengers in 3 classes for 19 hours or 8,100 nautical miles.

Karunanayake noted that if all the eight A350-900s were taken in by SriLankan as originally planned, the losses would have amounted to Rs.162 billion.
“Based on the size of the deals, we could have instead cut down the prices of sugar by Rs. 40, or purchased 20,000 buses. These are the things they have done.

We could have done a project similar to half of Mahaweli, or spent more on education,” Karunanayake added.

SriLankan has also taken an order of seven A330-300 aircraft, one of which has been wet leased to Pakistan International Airlines, and 3 more are to be dry leased.
SriLankan is currently in the process of a major restructuring, ahead of finalizing one out of the ten international operators who expressed interest to take over its management.

In order to make SriLankan investor-friendly, the government has announced plans to take over the Rs.461 billion in debt SriLankan has accrued over the past 8 years, after the Rajapaksa regime forced Emirates out of managing the national carrier profitably.


- See more at: http://www.dailymirror.lk/116876/SriLankan-to-pay-Rs-bn-for-aircraft-order-cancellation#sthash.qK6TORzo.dpuf
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