SriLankan Airlines records profit, despite hard times 

[August 08, 2003 - 10.15 GMT] 

SriLankan Airlines has recorded a net profit of Rs. 1,329.20 million in what the Airline notes as a difficult year, 2002/2003, for the aviation industry the world over. Airlines already adversely affected by the September 11th attack on the US had to face two more major crises, the Iraq war and the SARS epidemic in Asia.

Against such a backdrop SriLankan achieved net profits, both at company level and at group level, the airline and its subsidiary, SriLankan Catering Services Pvt. Ltd.

Chairman Daya Pelpola notes in the firm’s annual report, the climate of peace helped them gain these positive results. He remained optimistic now tourists were being lured back to the island by the current bid to end the 20-year civil strife.

According to the report, the company’s operating revenue showed an increase of 23% over the previous year’s figure. Passenger traffic rose 12 percent.

During the year in review SriLankan added an Airbus A320 to its fleet to provide the required capacity for its expansion regionally and services were launched to Bangalore and Bodh Gaya in India. The airline also resumed services to Frankfurt.

According to a press release the airline has in recent years shifted its focus from leisure to a product that can be sold to all segments of the market. Stringent revenue management helps match seat availability to anticipated demand to achieve profitable growth. Punctuality is now at 90%, which exceeds the performance of the worlds leading airlines.

PRINT THIS STORY

Contact Information: Send mail to gosl@presidentsl.org with questions or comments about this web site. 
Last Updated Date: August 08, 2003  -10.15 GMT.