SriLankan Airlines has responded to media reports on its 2024/25 financial results, clarifying that the Group’s reported loss was largely due to a steep reduction in foreign exchange gains compared to the previous year.
The airline reported a Group loss of Rs. 2,735 million for the financial year 2024/25, compared to a profit of Rs. 7,925 million in 2023/24. According to the airline, the difference stemmed mainly from a lower exchange gain of Rs. 3,925 million this year, versus Rs. 26,717 million last year.
SriLankan Airlines explained that the exchange gain arises from the revaluation of foreign currency-denominated liabilities, where an appreciating Rupee produces an accounting gain.
Excluding this currency effect, the Group recorded a loss of Rs. 6,660 million in 2024/25, which the airline said was an improvement from the Rs. 18,792 million operational loss in 2023/24 before accounting for exchange gains. (Newswire)