Sri Lankan Airlines takes flight towards new horizons with fleet expansion

SriLankan Airlines, long a subject of national debate and a significant drain on public funds, appears to be charting a new course. In a move signaling a potential turnaround for the embattled national carrier, a newly acquired Airbus A330-200 landed at Bandaranaike International Airport yesterday, fresh from Paris.

This addition comes at a pivotal time for SriLankan Airlines, which has for years been a ‘white elephant’ in the public eye, with past attempts at privatisation failing to materialise amid a mix of nationalistic sentiments and calls for reform.

Prior to its landing, the impressive aircraft performed a low-altitude flyover, captivating onlookers from the Colombo Port City all the way to Panadura, offering a clear view of the latest addition to the national fleet.

With this acquisition, SriLankan Airlines now boasts a fleet of 23 aircraft, comprising 10 wide-bodied and 13 narrow-bodied planes, employing over 6,000 personnel.

Commenting on the induction, SriLankan Airlines Chairman Sarath Ganegoda hailed the moment as a ‘new beginning of an exciting chapter’ for the airline. He emphasised its role in shaping their operational and fleet strategy as Sri Lanka continues to emerge as a top-tier tourism destination. “This new aircraft will help connect more tourists to Sri Lanka in line with the national tourism goals,” Ganegoda stated.

When asked by The Island Financial Review, Ganegoda elaborated on the rationale behind the expansion. He explained that strengthening the fleet is crucial to cater to growing demand, particularly after missing out on direct connections to key profitable destinations such as Beijing, and even Nairobi, which offers connectivity to Australia and East Africa. While acknowledging that this new addition alone won’t suffice, he revealed plans are underway to acquire two more aircraft by the end of the year to further increase connectivity to profitable routes.

Ganegoda also confirmed that the 8-year leasing term for the new aircraft was arranged by Carlyle in France, and he commended the SriLankan Airlines financial division for securing ‘very favorable terms” on the deal, without giving any numbers.

Notably, the Chairman acknowledged that the initiation of this crucial deal stemmed from the previous Board of SriLankan Airlines under the previous government.

This latest development marks a tangible step forward for an airline that has been a political hot potato for successive administrations. For a nation that has grappled with the financial burden of its national carrier, this fleet expansion signals not only a positive turnaround but also a pragmatic decision in the absence of other feasible alternatives. It remains to be seen if this strategic investment will indeed propel SriLankan Airlines towards sustained profitability and a more secure future.

By Sanath Nanayakkare