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? :confused: |
Sri Lankan Airlines to be sold to Qatar Airways?
Maybe want the routes ?
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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.
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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. :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. |
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. |
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