The Cabinet has approved the appointment of a special committee headed by Presidential Senior Adviser on Digital Economy Dr. Hans Wijayasuriya to oversee the strategic review and restructuring of SriLankan Airlines.
According to the President’s Media Division, the committee has been tasked with conducting an independent assessment of the national carrier and recommending the most suitable course of action to ensure its long-term financial sustainability and commercial viability.
Other members of the committee include Presidential Senior Economic Adviser Duminda Hulangamuwa, finance and corporate strategy specialist Deshal de Mel, transaction and investment banking specialist Dumith Fernando, the Secretary to the Ministry of Finance or a representative, the Secretary to the Ministry of Transport, Highways and Urban Development or a representative from the Civil Aviation Authority, and the Chairman of SriLankan Airlines.
Legal experts with expertise in corporate, aviation and public law, as well as aviation industry specialists, will also be appointed to the committee.
The government said a comprehensive strategic review of SriLankan Airlines has been identified as an urgent priority, taking into account broader macroeconomic conditions and the need to reduce the long-term financial burden on the State.
The committee will work in collaboration with the International Finance Corporation (IFC), which is serving as the transaction adviser for the restructuring process.
Its responsibilities include reviewing strategic options, assessing restructuring requirements, recommending the most suitable restructuring model, and providing oversight, guidance and support for the implementation of the strategy selected by the Government.
The committee will remain operational throughout the strategic review and restructuring process or until it is formally dissolved by the Government. (Newswire)
Committee appointed for the strategic review and restructuring of SriLankan Airlines:
• Dr. Hans Wijayasuriya – Presidential Senior Adviser on Digital Economy (Chairman)
• Duminda Hulangamuwa – Presidential Senior Economic Adviser
• Deshal de Mel – Finance and Corporate Strategy Specialist
• Dumith Fernando – Transaction and Investment Banking, Mergers and Acquisitions Specialist
• Secretary to the Ministry of Finance or a representative
• Secretary to the Ministry of Transport, Highways and Urban Development or a representative from the Civil Aviation Authority
• Chairman of SriLankan Airlines
• Legal experts with expertise in corporate, aviation and public law
• Aviation industry experts
The committee will work alongside the International Finance Corporation (IFC), which has been appointed as the transaction adviser for the restructuring process.
