Sri Lankan Airlines to be sold to Qatar Airways?

[Gotafix2]

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? :confused:

[TOWTEAMBASE]

Maybe want the routes ?

[Metro man]

That's the sort of airline one of the operators from the UAE would buy. There was a previous partnership with EK but it ended due to political interference.

[Gotafix2]

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. :ok:

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.

[lilflyboy262...2]

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.