Tata Sons touted as possible SriLankan Airlines investor

Indian conglomerate Tata Sons is again being touted in media reports as a possible investor in SriLankan Airlines (UL, Colombo International).
The owner of Air India, Vistara, Air India Express and AirAsia India, has long been considered a possible investor in Sri Lanka’s state-owned carrier.
SriLankan Airlines is one of several state-owned enterprises the government wants to privatise. However, it has become something of a political football with various agenda at play in Colombo. 
Speaking at a recent government committee on public enterprises hearing, SriLankan Airlines Chairman Ashok Pathirage was supportive of privatisation as long as the right buyer was found, while CEO Richard Nuttall said he was focused on replacing aircraft and rebuilding the fleet ahead of any privatisation.

Meanwhile, Sri Lanka’s Ports, Naval and Aviation Services Ministry Secretary K.D.S. Ruwanchandra told the public enterprises hearing that the government agency handling the sale of SriLankan Airlines subsidiaries, SriLankan Airlines Ground Handling and SriLankan Catering, preferred to sell the two entities to one buyer. As previously reported in ch-aviation, the government hopes to raise approximately US $ 600 million, selling 49 percent stakes in both profitable entities. However, that amount would only cover around half of SriLankan Airlines’ existing debt.
(Courtesy: ch-aviation.com)