The Turnaround of Srilankan Airlines |
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"SriLankan is the only privatized airline in South Asia, and other countries in the region are viewing us as a model because they are moving towards privatization themselves." - K. J. L. Perera, President, Jathika Sevaka Sangamaya Employees Union, in May 2004. 1 "Although buffeted by nature's fury and industry challenges, SriLankan Airlines remained unbowed, and continued to seek opportunities to adapt and expand." - Peter Hill, CEO, SriLankan Airlines, in September 2005. 2 IntroductionThe Lonely Planet World Guide says, "For a small island, Sri Lanka has many nicknames: Serendib, Ceylon, Teardrop of India, Resplendent Isle, Island of Dharma, Pearl of the Orient."3
Through a series of initiatives taken by the new management, SLA achieved a turnaround and posted a profit in 2003-04. The tsunami disaster in December 2004 and rising jet fuel prices affected the airline in the following year. SLA partnered with the government to revive the tourism industry, and managed to post a profit for the year 2004-05 as well.
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1] "SriLankan Airlines becomes a model for airline privatization in South Asia," www.srilankan.aero/aboutus_news/ news91_south_asia.shtml, May 12, 2004.
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