SriLankan aims to reach greater heights next financial year

• Aims to breakeven by next financial year and record profits the year after
• Strategy include increasing flight frequencies and introducing new routes
• Expansion of fleet on the cards; urges need to promote tourism more aggressively

By Shabiya Ali Ahlam
National carrier SriLankan Airlines aims to reach greater heights next year and several efforts are underway to pull it towards a positive growth trajectory after years of reported losses.

The head of the airline expressed confidence in bringing down the losses incurred and achieving breakeven in the next financial year.

A number of strategies are underway to achieve that goal led by a restructuring exercise.

“We are very focused on next year. If the situation (tourism) improves a little bit, we are confident in reaching breakeven in our next financial year, and profits the year after,” SriLankan Airlines Chairman Ashok Pathirage told Mirror Business.

In January the airline “made money” the Chairman said, but a dip was witnessed in the following month. However, he expressed confidence in returning back to profitability in March.

SriLankan is steering forward with a mindset of surviving first, after being massively impacted by the implications stemming from the pandemic just as all airlines across the world. It is also rolling out measures to be self-sufficient, run independently, and not be a burden to the government.

Some of the efforts taken to reduce the company from bleeding are to increase the frequency on existing routes and introduce new routes to improve connectivity.

SriLankan is also in the midst of increasing its fleet. While the financial status of the airline at present makes this expansion questionable, Pathirage said this would initially be rolled out by flying with secondhand aircraft for the next three years. Plans are afoot to take on board about 10 to 20 aircraft.