SriLankan Airlines Aims to Double Fleet in Five Years Amid Financial Recovery

Colombo (News 1st): SriLankan Airlines is set to embark on a fleet expansion as part of its strategic plan to double its aircraft numbers within the next five years. 

This ambitious move comes as the airline emerges from a turbulent decade, marked by operational profitability over the past three years but still grappling with substantial legacy debt.

CEO Richard Nutall speaking to Bloomberg, highlighted the airline's efforts to lease aircraft and the critical role of government support in navigating financial constraints. 

"Ideally, our fleet really should be double what it is within five years. Now, whether we can get there will depend on financing," Nutall stated. 

He emphasized that the new government does not want to privatize the airline or lose control to foreign entities, recognizing the airline as a national asset crucial for Sri Lanka's tourism-driven economy.

When asked about government backing, Nutall acknowledged the challenges posed by Sri Lanka's recent exit from default and ongoing IMF process. 

However, he expressed confidence in the government's commitment to the airline, noting that while immediate large-scale financial support may not be feasible, there are various ways to sustain operations through existing infrastructure and government-held debt.

Regarding fleet rejuvenation plans, Nutall explained that the airline aims to maintain a balanced mix of narrow-body and wide-body aircraft, primarily Airbus A320s and A330s.

The expansion will focus on increasing frequency to existing destinations, particularly in India and Southeast Asia, to meet the demands of modern travelers who seek flexible travel options.