SriLankan Airlines Restructuring Takes a Time Extension: Bidding Period Stretched by 45 Days

In a move to ensure a comprehensive and well-considered approach to the restructuring of SriLankan Airlines, the deadline for calling bids has been extended by 45 days, announced Ports, Shipping, and Aviation Minister Nimal Siripala de Silva.

Effective from today, the extension aims to provide potential bidders with ample time to craft thorough proposals that align with the complex requirements of restructuring an airline. Minister de Silva highlighted that this decision is a strategic move towards fostering a competitive bidding process and ensuring the best possible outcome for the national carrier.

In addition to the extension, Minister de Silva revealed that the Cabinet has given the green light to a proposal suggesting the government’s absorption of the USD 510 million in outstanding debts held by SriLankan Airlines. This significant development signals a commitment to stabilizing the financial landscape of the airline and underscores the government’s dedication to navigating the complexities of the aviation sector.

As SriLankan Airlines enters a new phase of its restructuring journey, the time extension and government’s proposed financial intervention set the stage for a meticulous and well-managed transformation. Industry stakeholders and potential investors now have an extended window to prepare robust bids, contributing to the rejuvenation of SriLankan Airlines as a resilient and sustainable player in the aviation industry.