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Sri Lankan Airlines acquires shares sold to Emirates

Jun 6, 2010 12:23:05 PM - itnnews.lk

All shares of the Sri Lankan Airlines sold to the Emirates have been acquired.

Chairman of Sri Lankan Airlines Nishantha Wickramasinghe said that 43 percent of the shares of the Sri Lankan Airlines were sold to the Emirates 10 years ago.

The Management of the Sri Lankan Airlines was also handed over to the Emirates. The management was reabsorbed two years ago on a decision made by the President. The Government cannot allocate funds to purchase new aircraft due to the 43 percent of the shares being held by the Emirates. After holding successful discussions with Emirates on a directive of the President, Sri Lankan has been able to acquire the 43 percent shares that belonged to the Emirates.