Sri Lankan Airlines to be sold to Qatar Airways?
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Sri Lankan Airlines to be sold to Qatar Airways?
There's a rumour in CMB that UL is to be sold to QR after the upcoming elections in Sri Lanka.
I find it hard to believe becuase the company is in such bad shape. Four consecutive years of losses with a c/f loss at the end of the last financial year of just under a billion USD, and a negative equity of 500 million USD (according to a recent letter written by the UL management to shareholders).
Has anyone else here heard this rumour?
I find it hard to believe becuase the company is in such bad shape. Four consecutive years of losses with a c/f loss at the end of the last financial year of just under a billion USD, and a negative equity of 500 million USD (according to a recent letter written by the UL management to shareholders).
Has anyone else here heard this rumour?
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SK, the guy in charge of cabin crew at QR and one of Al Bakar's favourites, is the younger brother of the finance minister in the present Sri Lankan cabinet. 
If the present lot come into power after the election, this connection will give QR a huge advantage if UL is put up for sale.
If the present lot come into power after the election, this connection will give QR a huge advantage if UL is put up for sale.
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It's not unusual for a big company to come in, buy a business, boot out the top brass, install new people and recapitalize it, then sell it again for a profit.
It happens on a regular basis actually.
It happens on a regular basis actually.
