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SriLankan reduced cash burn by 44%: chairman


By Cirium2021-07-27T01:07:00+01:00
SriLankan Airlines reduced its cash burn by approximately 44%, partly by renegotiating aircraft leases, according to chairman Ashok Pathirage.
The flag carrier secured both rent reductions and deferrals. Other measures include a voluntary retirement scheme for employees and restructuring for a leaner organisation.
Source: Wikimedia Commons
A Srilankan A330-300 takes off from Tokyo Narita in 2015
“However, the cash burn is forecasted to continue until at least the end of this year, as we expect continued severe revenue losses form the aviation industry,” Pathirage says in a media statement dated 25 July.
SriLankan was loss-making before the Covid-19 pandemic, the company’s annual reports shows, even though revenue has been on a general upward trend from at least financial year (FY) 2013 to FY 2020. ....

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