Lanka, Emirates finalize deal

4 June 2010 06:59 am Views - 6961

Sri Lanka's government and Dubai's Emirates Arlines have finalized a deal to buy out its stake in the national carrier, chairman Nishanta Wickremesinghe said. "The deal has been finalized," Wickremesinghe said. "It is between the government and Emirates."

Wickremesinghe said he was not aware of the final price. However a government source familiar with the deal mentioned a deal value of 55 to 60 million US dollars.

It is not clear whether it is for the whole 43 percent stake in SriLankan.  Emirates managed the airline for 10 years from 1998. The government already owns 51 percent of Sri Lankan. (LBO)