Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘B-‘, from ‘B’. KEY RATING DRIVERS The rating action follows the downgrade of Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings to ‘B-‘, from ‘B’, withContinue Reading

<header class=”inner-content”>As a further cost cutting measure, largely grounded SriLankan Airlines has sent 400 contract staff on three months no-pay leave till July. Among the contract staff include 21 from flight operations and 288 airport and ground services staff and 43 from cabin services and engineering. The Group employs overContinue Reading

<blockquote>While these social distancing policies may be a temporary hindrance to travel post-COVID-19, it is likely that in the long-term we will see airlines hike ancillary charges to try and recoup some of the revenue lost to the coronavirus crisis COVID-19’s impact on the aviation sector has been vast andContinue Reading