SriLankan Airlines posts Rs. 35.6 billion first-quarter loss amid Middle East conflict
Summarised by AI from 2 articles
SriLankan Airlines recorded a pre-tax loss of Rs. 35.6 billion in the first quarter of the 2026/27 financial year, according to a Finance Ministry report.
Total revenue rose to Rs. 82.8 billion from Rs. 62.6 billion a year earlier. However, the group incurred a Rs. 32.2 billion net loss, cushioned by a Rs. 3.4 billion profit from SriLankan Catering.
Financial strains were driven by Middle East conflict disruptions and soaring jet fuel prices, alongside maintenance, foreign exchange, and finance costs. CEO Vipula Gunatilleka noted that refineries prioritized petrol and diesel, restricting aviation fuel supplies.
As of June 2026, liabilities reached Rs. 561.4 billion against Rs. 209.9 billion in assets. To assist the carrier, the government supported state bank loan servicing and released US$30 million in short-term funding.
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How the story developed
- EMinister Nalinda Jayatissa announced government plans to make the airline profitable and financially sustainable.
- EதThis storyThe airline attributed the losses to Middle East conflict disruptions and rising jet fuel costs.
- ESriLankan Airlines reported a 35.6 billion rupee pre-tax loss for the first quarter.
